Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.
A number of other analysts have also recently issued reports on CRBP. Nomura Instinet lifted their price objective on Corbus Pharmaceuticals from $12.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Zacks Investment Research cut Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Nomura Securities initiated coverage on Corbus Pharmaceuticals in a research report on Thursday, March 26th. They set a “buy” rating and a $112.00 price objective for the company. Oppenheimer reissued a “buy” rating and set a $28.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, June 19th. Finally, ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.09.
Corbus Pharmaceuticals stock traded down $0.08 during mid-day trading on Friday, hitting $7.78. 152,165 shares of the company’s stock traded hands, compared to its average volume of 1,737,876. The firm has a 50 day moving average price of $7.25 and a 200 day moving average price of $6.00. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.35. The company has a market cap of $564.70 million, a PE ratio of -6.88 and a beta of 1.45. Corbus Pharmaceuticals has a one year low of $3.29 and a one year high of $8.66.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Corbus Pharmaceuticals by 6.7% in the first quarter. BlackRock Inc. now owns 5,772,447 shares of the biopharmaceutical company’s stock worth $30,249,000 after purchasing an additional 360,244 shares during the period. Knoll Capital Management LP increased its stake in shares of Corbus Pharmaceuticals by 1.2% in the fourth quarter. Knoll Capital Management LP now owns 5,045,870 shares of the biopharmaceutical company’s stock worth $27,550,000 after purchasing an additional 60,000 shares during the period. Pinnacle Associates Ltd. bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $6,413,000. State Street Corp increased its stake in shares of Corbus Pharmaceuticals by 3.1% in the first quarter. State Street Corp now owns 1,156,624 shares of the biopharmaceutical company’s stock worth $6,061,000 after purchasing an additional 34,951 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Corbus Pharmaceuticals by 27.0% in the first quarter. Geode Capital Management LLC now owns 990,587 shares of the biopharmaceutical company’s stock worth $5,190,000 after purchasing an additional 210,632 shares during the period. Institutional investors and hedge funds own 48.75% 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 III clinical trials for the treatment of systemic sclerosis and dermatomyositis, and in Phase IIb clinical trials to treat systemic lupus erythematosus and cystic fibrosis.
Featured Article: Most Active Stocks: Dollar Volume vs Share Volume
Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.