Corbus Pharmaceuticals (CRBP) Coverage Initiated by Analysts at Royal Bank of Canada

Stock analysts at Royal Bank of Canada started coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report released on Friday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

CRBP has been the topic of several other reports. ValuEngine upgraded Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 21st. BidaskClub downgraded Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 18th. Cantor Fitzgerald set a $36.00 price target on Corbus Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 1st. Finally, B. Riley assumed coverage on Corbus Pharmaceuticals in a research note on Wednesday, October 24th. They set a “buy” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $27.33.

Shares of CRBP stock opened at $6.66 on Friday. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.95. The firm has a market cap of $381.77 million, a P/E ratio of -10.25 and a beta of 2.15.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The company had revenue of $1.09 million during the quarter, compared to analysts’ expectations of $1.66 million. As a group, analysts predict that Corbus Pharmaceuticals will post -0.86 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of CRBP. D.A. Davidson & CO. acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $156,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Corbus Pharmaceuticals by 52.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 12,380 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Corbus Pharmaceuticals by 57.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 36,354 shares of the biopharmaceutical company’s stock valued at $274,000 after buying an additional 13,265 shares during the period. Royal Bank of Canada lifted its holdings in shares of Corbus Pharmaceuticals by 2,742.5% in the 1st quarter. Royal Bank of Canada now owns 51,961 shares of the biopharmaceutical company’s stock valued at $317,000 after buying an additional 50,133 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $321,000. Institutional investors and hedge funds own 43.87% of the company’s stock.

Corbus Pharmaceuticals Company Profile

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.

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