Shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) have received an average rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.20.
Several analysts have commented on CRBP shares. ValuEngine upgraded Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 21st. BidaskClub lowered Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. HC Wainwright reissued a “buy” rating and set a $24.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, January 4th. Cantor Fitzgerald set a $36.00 price target on Corbus Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 1st. Finally, B. Riley assumed coverage on Corbus Pharmaceuticals in a research report on Wednesday, October 24th. They set a “buy” rating and a $22.00 price target on the stock.
A number of hedge funds have recently bought and sold shares of CRBP. D.A. Davidson & CO. purchased a new stake in Corbus Pharmaceuticals during the 3rd quarter worth approximately $156,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Corbus Pharmaceuticals by 52.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock valued at $271,000 after acquiring an additional 12,380 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Corbus Pharmaceuticals by 57.5% in 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 during the last quarter. Trexquant Investment LP bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at approximately $321,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Corbus Pharmaceuticals by 61.5% in the 3rd quarter. Alliancebernstein L.P. now owns 55,400 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 21,100 shares during the last quarter. Institutional investors own 43.87% of the company’s stock.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). The company had revenue of $1.09 million during the quarter, compared to analysts’ expectations of $1.66 million. Equities research analysts predict that Corbus Pharmaceuticals will post -0.87 EPS for the current fiscal year.
About Corbus Pharmaceuticals
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.
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