Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, 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. “

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, May 10th. BidaskClub downgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Jefferies Financial Group began coverage on shares of Corbus Pharmaceuticals in a report on Friday, April 5th. They set a “buy” rating and a $18.00 price objective on the stock. ValuEngine upgraded shares of Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 21st. Finally, CIBC began coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, March 20th. They set an “outperform” rating and a $28.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.59.

CRBP traded up $0.29 during trading on Monday, hitting $7.37. The stock had a trading volume of 851,154 shares, compared to its average volume of 1,506,348. The company has a market capitalization of $455.09 million, a PE ratio of -7.52 and a beta of 2.12. Corbus Pharmaceuticals has a 12 month low of $4.50 and a 12 month high of $9.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 2.45.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.45). Corbus Pharmaceuticals had a negative return on equity of 166.99% and a negative net margin of 1,219.36%. The firm had revenue of $1.89 million during the quarter, compared to the consensus estimate of $20.97 million. Analysts anticipate that Corbus Pharmaceuticals will post -1.2 earnings per share for the current year.

In related news, insider Barbara White acquired 4,638 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the acquisition, the insider now owns 184,159 shares in the company, valued at approximately $1,191,508.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have bought 12,152 shares of company stock worth $81,820. Insiders own 8.20% of the company’s stock.

Several institutional investors have recently modified their holdings of CRBP. MetLife Investment Advisors LLC boosted its position in shares of Corbus Pharmaceuticals by 57.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 36,354 shares of the biopharmaceutical company’s stock valued at $274,000 after acquiring an additional 13,265 shares in the last quarter. Morgan Stanley boosted its position in shares of Corbus Pharmaceuticals by 24.9% during the 3rd quarter. Morgan Stanley now owns 882,068 shares of the biopharmaceutical company’s stock valued at $6,659,000 after acquiring an additional 175,705 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Corbus Pharmaceuticals by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after acquiring an additional 11,609 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Corbus Pharmaceuticals by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after acquiring an additional 11,609 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Corbus Pharmaceuticals by 6.8% during the 4th quarter. IFP Advisors Inc now owns 1,608,569 shares of the biopharmaceutical company’s stock valued at $9,458,000 after acquiring an additional 102,323 shares in the last quarter. Institutional investors and hedge funds own 35.19% of the company’s stock.

Corbus Pharmaceuticals Company Profile

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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