Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Price Target at $44.38

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $44.3750.

CRBP has been the subject of a number of recent analyst reports. Benchmark restated a “reduce” rating on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Royal Bank Of Canada reduced their target price on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Mizuho set a $39.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 29th. Wedbush increased their price objective on shares of Corbus Pharmaceuticals from $31.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $8.14 on Monday. Corbus Pharmaceuticals has a 12-month low of $4.64 and a 12-month high of $20.56. The company has a market capitalization of $142.86 million, a price-to-earnings ratio of -1.48 and a beta of 2.71. The firm’s fifty day moving average price is $11.03 and its 200 day moving average price is $10.66.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($0.10). Analysts forecast that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Insider Activity at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $11.46, for a total value of $344,132.34. Following the completion of the sale, the insider directly owned 2,344,971 shares in the company, valued at approximately $26,873,367.66. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yuval Cohen sold 8,973 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $17.14, for a total value of $153,797.22. Following the sale, the chief executive officer directly owned 138,187 shares in the company, valued at approximately $2,368,525.18. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 71,703 shares of company stock valued at $1,058,003 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CRBP. Nuveen LLC acquired a new stake in shares of Corbus Pharmaceuticals during the first quarter worth $243,000. Comerica Bank grew its position in shares of Corbus Pharmaceuticals by 20,000,000.0% during the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock valued at $1,062,000 after buying an additional 200,000 shares during the last quarter. Armistice Capital LLC raised its stake in Corbus Pharmaceuticals by 5.9% during the first quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,328,000 after acquiring an additional 14,000 shares during the period. AQR Capital Management LLC bought a new position in Corbus Pharmaceuticals in the first quarter worth about $573,000. Finally, Exome Asset Management LLC bought a new position in Corbus Pharmaceuticals in the first quarter worth about $1,538,000. 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.