BidaskClub Downgrades Corbus Pharmaceuticals (NASDAQ:CRBP) to Hold

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 2nd.

Several other equities analysts have also weighed in on CRBP. Noble Financial increased their target price on Corbus Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Cantor Fitzgerald set a $28.00 price target on Corbus Pharmaceuticals and gave the stock an “overweight” rating in a report on Thursday, December 14th. Finally, Raymond James Financial initiated coverage on Corbus Pharmaceuticals in a report on Friday, January 19th. They issued an “outperform” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.75.

Corbus Pharmaceuticals (NASDAQ:CRBP) opened at $7.05 on Friday. Corbus Pharmaceuticals has a one year low of $5.30 and a one year high of $10.50. The firm has a market capitalization of $392.00, a PE ratio of -11.19 and a beta of 2.14.

In other Corbus Pharmaceuticals news, Director David P. Hochman purchased 5,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the acquisition, the director now directly owns 459,500 shares of the company’s stock, valued at $3,009,725. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.90% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of CRBP. State Board of Administration of Florida Retirement System bought a new position in shares of Corbus Pharmaceuticals during the third quarter worth about $108,000. Yellowstone Partners LLC bought a new position in shares of Corbus Pharmaceuticals during the third quarter worth about $110,000. Voya Investment Management LLC bought a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $125,000. Aries Wealth Management bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth about $153,000. Finally, Nationwide Fund Advisors bought a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $158,000. Institutional investors and hedge funds own 27.89% of the company’s stock.

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About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.

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