Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other research firms have also weighed in on CRBP. B. Riley began coverage on Corbus Pharmaceuticals in a research note on Wednesday, June 26th. They issued a buy rating and a $85.00 price objective for the company. Royal Bank of Canada reaffirmed an outperform rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, August 7th. Wedbush started coverage on shares of Corbus Pharmaceuticals in a report on Tuesday, July 30th. They issued an outperform rating and a $85.00 target price on the stock. HC Wainwright restated a buy rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. Finally, Oppenheimer lifted their price target on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an outperform rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Corbus Pharmaceuticals currently has a consensus rating of Moderate Buy and an average price target of $77.67.

Corbus Pharmaceuticals Price Performance

CRBP opened at $52.98 on Friday. The company has a 50 day simple moving average of $51.44 and a two-hundred day simple moving average of $41.62. The firm has a market cap of $566.20 million, a P/E ratio of -7.61 and a beta of 2.59. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Equities analysts anticipate that Corbus Pharmaceuticals will post -4.68 earnings per share for the current year.

Insider Activity

In related news, CEO Yuval Cohen sold 29,317 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the sale, the chief executive officer now owns 84,400 shares of the company’s stock, valued at $4,234,348. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the sale, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at $4,234,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,733 shares of company stock worth $2,530,799. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $10,181,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at $976,000. Vanguard Group Inc. increased its stake in Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after purchasing an additional 257,808 shares during the period. Altitude Crest Partners Inc. bought a new stake in shares of Corbus Pharmaceuticals during the first quarter worth $4,069,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter valued at $7,554,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.