Zacks Investment Research Lowers Corbus Pharmaceuticals (NASDAQ:CRBP) to Sell

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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, Oppenheimer reissued a “hold” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, March 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.22.

CRBP stock traded up $0.04 during midday trading on Tuesday, reaching $1.63. 1,988,726 shares of the company were exchanged, compared to its average volume of 10,615,076. 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 business has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $1.79. Corbus Pharmaceuticals has a one year low of $0.91 and a one year high of $9.78. The firm has a market capitalization of $203.80 million, a price-to-earnings ratio of -0.91 and a beta of 2.14.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Wednesday, May 12th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. Corbus Pharmaceuticals had a negative net margin of 2,208.06% and a negative return on equity of 485.45%. As a group, analysts anticipate that Corbus Pharmaceuticals will post -1.59 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in Corbus Pharmaceuticals by 31.4% in the fourth quarter. Principal Financial Group Inc. now owns 33,163 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 7,934 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Corbus Pharmaceuticals by 3.3% during the first quarter. Nuveen Asset Management LLC now owns 253,115 shares of the biopharmaceutical company’s stock worth $2,342,000 after acquiring an additional 8,101 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Corbus Pharmaceuticals by 28.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 38,411 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 8,464 shares in the last quarter. Penserra Capital Management LLC raised its stake in Corbus Pharmaceuticals by 10.4% during the fourth quarter. Penserra Capital Management LLC now owns 104,408 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 9,800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Corbus Pharmaceuticals by 30.9% during the first quarter. The Manufacturers Life Insurance Company now owns 50,289 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 11,878 shares in the last quarter. 67.13% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of novel therapeutics that target the endocannabinoid system in the fields of autoimmunity, fibrosis, and cancer. Its lead product candidate is lenabasum, a cannabinoid receptor type 2 (CB2) that is in Phase III clinical trial for the treatment of dermatomyositis; and in Phase II clinical trial to treat systemic lupus erythematosus.

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