Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) shares rose 6% during trading on Wednesday . The company traded as high as $5.74 and last traded at $5.68, approximately 668,157 shares traded hands during trading. A decline of 41% from the average daily volume of 1,123,313 shares. The stock had previously closed at $5.36.
Several brokerages have weighed in 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 target price on Corbus Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, June 24th. BidaskClub downgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, September 5th. Royal Bank of Canada restated a “buy” rating and set a $23.00 price target on shares of Corbus Pharmaceuticals in a research report on Sunday, August 11th. Finally, Zacks Investment Research raised shares of Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective on the stock in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Corbus Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $23.50.
The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 2.56. The stock has a fifty day moving average price of $5.62 and a two-hundred day moving average price of $6.65. The company has a market cap of $367.22 million, a P/E ratio of -5.80 and a beta of 1.88.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.25. Corbus Pharmaceuticals had a negative return on equity of 139.91% and a negative net margin of 164.68%. The business had revenue of $29.10 million during the quarter, compared to analyst estimates of $10.32 million. As a group, analysts forecast that Corbus Pharmaceuticals Holdings Inc will post -1.05 earnings per share for the current year.
In other Corbus Pharmaceuticals news, COO Robert Paul Discordia purchased 15,000 shares of Corbus Pharmaceuticals stock in a transaction on Monday, August 12th. The stock was bought at an average price of $5.86 per share, for a total transaction of $87,900.00. Following the transaction, the chief operating officer now owns 30,150 shares of the company’s stock, valued at approximately $176,679. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 19,175 shares of company stock worth $112,241 in the last ninety days. 8.20% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Corbus Pharmaceuticals by 6.7% during the fourth quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 2,335 shares during the period. Rhumbline Advisers lifted its holdings in Corbus Pharmaceuticals by 4.4% in the first quarter. Rhumbline Advisers now owns 67,529 shares of the biopharmaceutical company’s stock worth $469,000 after purchasing an additional 2,840 shares during the period. Bank of New York Mellon Corp grew its position in Corbus Pharmaceuticals by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 210,134 shares of the biopharmaceutical company’s stock valued at $1,456,000 after buying an additional 4,115 shares in the last quarter. Aperio Group LLC bought a new position in Corbus Pharmaceuticals in the 2nd quarter valued at about $29,000. Finally, Wells Fargo & Company MN increased its stake in Corbus Pharmaceuticals by 7.1% during the 2nd quarter. Wells Fargo & Company MN now owns 103,549 shares of the biopharmaceutical company’s stock valued at $717,000 after buying an additional 6,820 shares during the period. 50.10% of the stock is owned by institutional investors.
Corbus Pharmaceuticals Company Profile (NASDAQ:CRBP)
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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