Corbus Pharmaceuticals (NASDAQ:CRBP) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a hold rating to a buy rating in a research note released on Friday morning, BidAskClub reports.

A number of other research analysts have also recently commented on CRBP. BTIG Research began coverage on Corbus Pharmaceuticals in a research note on Tuesday, June 16th. They issued a buy rating and a $22.00 target price on the stock. Oppenheimer reissued a buy rating and issued a $28.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, June 19th. Nomura Instinet increased their target price on Corbus Pharmaceuticals from $12.00 to $32.00 and gave the company a buy rating in a research note on Thursday, June 4th. Zacks Investment Research cut Corbus Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, June 8th. Finally, ValuEngine cut Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Corbus Pharmaceuticals has a consensus rating of Buy and an average price target of $35.09.

Corbus Pharmaceuticals stock opened at $7.80 on Friday. The stock has a market cap of $569.78 million, a P/E ratio of -6.90 and a beta of 1.45. Corbus Pharmaceuticals has a fifty-two week low of $3.29 and a fifty-two week high of $8.66. The firm’s fifty day moving average price is $7.27 and its 200-day moving average price is $6.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.58.

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

Large investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. bought a new position in shares of Corbus Pharmaceuticals during the first quarter valued at about $30,000. HighMark Wealth Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $52,000. Davy Global Fund Management Ltd purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $58,000. SG Americas Securities LLC purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $67,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $71,000. 48.75% of the stock is currently owned by hedge funds and other institutional investors.

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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