Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Lowered by Zacks Investment Research


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Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. “

Separately, HC Wainwright reduced their price objective on shares of Corbus Pharmaceuticals from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Corbus Pharmaceuticals has a consensus rating of “Buy” and an average target price of $23.88.

CRBP opened at $1.61 on Tuesday. Corbus Pharmaceuticals has a fifty-two week low of $0.91 and a fifty-two week high of $9.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market capitalization of $135.30 million, a price-to-earnings ratio of -0.90 and a beta of 2.14. The company’s 50 day moving average price is $1.36 and its two-hundred day moving average price is $3.61.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Monday, November 16th. The biopharmaceutical company reported ($0.42) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.42). Corbus Pharmaceuticals had a negative net margin of 2,208.06% and a negative return on equity of 485.45%. The company had revenue of $1.23 million for the quarter, compared to analyst estimates of $3.42 million. As a group, equities research analysts predict that Corbus Pharmaceuticals will post -1.59 EPS for the current year.

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 53,610 shares of the company’s stock in a transaction on Friday, December 18th. The shares were sold at an average price of $1.40, for a total transaction of $75,054.00. Following the transaction, the chief financial officer now owns 403,220 shares in the company, valued at $564,508. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sean F. Moran sold 87,500 shares of the company’s stock in a transaction on Monday, December 21st. The stock was sold at an average price of $1.75, for a total transaction of $153,125.00. Following the completion of the sale, the chief financial officer now owns 403,220 shares of the company’s stock, valued at approximately $705,635. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,033 shares of company stock worth $276,917. Corporate insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CRBP. State Street Corp grew its stake in shares of Corbus Pharmaceuticals by 445.6% in the 3rd quarter. State Street Corp now owns 16,618,149 shares of the biopharmaceutical company’s stock worth $29,913,000 after acquiring an additional 13,572,065 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Corbus Pharmaceuticals by 1,251.8% in the 3rd quarter. SG Americas Securities LLC now owns 1,228,106 shares of the biopharmaceutical company’s stock worth $2,211,000 after acquiring an additional 1,137,258 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Corbus Pharmaceuticals by 203.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 766,153 shares of the biopharmaceutical company’s stock worth $6,428,000 after acquiring an additional 513,687 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Corbus Pharmaceuticals by 191.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,716 shares of the biopharmaceutical company’s stock worth $866,000 after acquiring an additional 315,902 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Corbus Pharmaceuticals by 2,462.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 114,468 shares of the biopharmaceutical company’s stock worth $1,432,000 after acquiring an additional 110,000 shares in the last quarter. Hedge funds and other institutional investors own 67.13% of the company’s stock.

Corbus Pharmaceuticals Company Profile

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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