BidaskClub Upgrades Corbus Pharmaceuticals (NASDAQ:CRBP) to Sell

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday, BidAskClub reports.

Several other brokerages have also issued reports on CRBP. Jefferies Financial Group raised their target price on Corbus Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Nomura raised their price objective on shares of Corbus Pharmaceuticals from $12.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Zacks Investment Research lowered shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Oppenheimer reissued a “buy” rating and set a $28.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, June 29th. Finally, Nomura Instinet raised their price target on shares of Corbus Pharmaceuticals from $12.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.95.

NASDAQ:CRBP opened at $6.27 on Friday. Corbus Pharmaceuticals has a 52 week low of $3.29 and a 52 week high of $8.78. The firm has a 50-day moving average price of $7.43 and a two-hundred day moving average price of $6.37. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.03). The business had revenue of $1.76 million during the quarter, compared to the consensus estimate of $1.64 million. Corbus Pharmaceuticals had a negative net margin of 207.87% and a negative return on equity of 282.91%. Equities analysts forecast that Corbus Pharmaceuticals will post -1.62 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in Corbus Pharmaceuticals by 6.6% during the 1st quarter. Wells Fargo & Company MN now owns 128,877 shares of the biopharmaceutical company’s stock valued at $675,000 after acquiring an additional 7,964 shares during the period. Nuveen Asset Management LLC lifted its holdings in Corbus Pharmaceuticals by 23.7% during the 1st quarter. Nuveen Asset Management LLC now owns 252,466 shares of the biopharmaceutical company’s stock worth $1,323,000 after purchasing an additional 48,341 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Corbus Pharmaceuticals by 27.0% during the 1st quarter. Geode Capital Management LLC now owns 990,587 shares of the biopharmaceutical company’s stock worth $5,190,000 after purchasing an additional 210,632 shares in the last quarter. BlackRock Inc. boosted its stake in Corbus Pharmaceuticals by 6.7% in the 1st quarter. BlackRock Inc. now owns 5,772,447 shares of the biopharmaceutical company’s stock worth $30,249,000 after purchasing an additional 360,244 shares during the period. Finally, Carmignac Gestion purchased a new position in Corbus Pharmaceuticals during the 1st quarter valued at about $3,835,000. Institutional investors and hedge funds own 48.72% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase III clinical trials for the treatment of systemic sclerosis and dermatomyositis, and in Phase IIb clinical trials to treat systemic lupus erythematosus and cystic fibrosis.

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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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