Guggenheim Reiterates Buy Rating for Corbus Pharmaceuticals (NASDAQ:CRBP)

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a report issued on Wednesday,Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock. Guggenheim’s price objective indicates a potential upside of 285.60% from the stock’s current price.

Several other brokerages also recently issued reports on CRBP. Oppenheimer upped their price target on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Corbus Pharmaceuticals Stock Up 2.1%

CRBP stock traded up $0.24 during mid-day trading on Wednesday, reaching $11.67. 35,657 shares of the company traded hands, compared to its average volume of 218,506. The stock has a market cap of $207.03 million, a price-to-earnings ratio of -1.95 and a beta of 2.68. Corbus Pharmaceuticals has a fifty-two week low of $6.72 and a fifty-two week high of $20.56. The firm’s 50 day moving average price is $9.70 and its 200 day moving average price is $9.70.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.03. On average, analysts anticipate that Corbus Pharmaceuticals will post -4.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CRBP. Persistent Asset Partners Ltd purchased a new stake in Corbus Pharmaceuticals during the fourth quarter valued at about $54,000. Virtu Financial LLC bought a new stake in shares of Corbus Pharmaceuticals in the fourth quarter valued at approximately $88,000. Barclays PLC lifted its stake in shares of Corbus Pharmaceuticals by 280.0% during the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in Corbus Pharmaceuticals in the 3rd quarter worth approximately $129,000. Finally, Marshall Wace LLP purchased a new position in Corbus Pharmaceuticals in the 2nd quarter valued at approximately $137,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.