BidaskClub Upgrades Corbus Pharmaceuticals (NASDAQ:CRBP) to Sell
A number of other brokerages have also commented on CRBP. ValuEngine lowered Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. HC Wainwright set a $24.00 price objective on Corbus Pharmaceuticals and gave the stock a buy rating in a research report on Monday, June 24th. Zacks Investment Research upgraded Corbus Pharmaceuticals from a hold rating to a strong-buy rating and set a $7.00 price objective for the company in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated a buy rating and set a $23.00 price target on shares of Corbus Pharmaceuticals in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $23.50.
Shares of NASDAQ CRBP opened at $5.69 on Wednesday. Corbus Pharmaceuticals has a one year low of $4.75 and a one year high of $9.11. The firm has a market capitalization of $370.45 million, a PE ratio of -5.81 and a beta of 1.84. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $6.25 and a two-hundred day moving average price of $6.98.
In other news, COO Robert Paul Discordia purchased 15,000 shares of Corbus Pharmaceuticals stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $5.86 per share, for a total transaction of $87,900.00. Following the acquisition, the chief operating officer now directly owns 30,150 shares in the company, valued at $176,679. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 19,175 shares of company stock valued at $112,241. 8.20% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Aperio Group LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at about $29,000. BNP Paribas Arbitrage SA lifted its holdings in Corbus Pharmaceuticals by 72,906.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 11,665 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $97,000. WINTON GROUP Ltd acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $97,000. Finally, Cetera Advisor Networks LLC acquired a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $98,000. Institutional investors and hedge funds own 36.78% of the company’s stock.
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 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.
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