Corbus Pharmaceuticals (NASDAQ:CRBP) Rating Lowered to Sell at StockNews.com

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

CRBP has been the subject of several other reports. Royal Bank of Canada upped their target price on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday. B. Riley initiated coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.60.

Corbus Pharmaceuticals Price Performance

CRBP opened at $55.45 on Wednesday. The company has a fifty day moving average price of $48.63 and a 200-day moving average price of $36.91. The firm has a market capitalization of $592.76 million, a P/E ratio of -7.97 and a beta of 2.59. Corbus Pharmaceuticals has a one year low of $3.03 and a one year high of $61.18.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.26. On average, analysts expect that Corbus Pharmaceuticals will post -5.05 earnings per share for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 11,103 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at $3,884,088. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Yuval Cohen sold 11,103 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the transaction, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at $3,884,088. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sean F. Moran sold 9,355 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $49.87, for a total transaction of $466,533.85. Following the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,423,931.35. The disclosure for this sale can be found here. Insiders sold a total of 51,733 shares of company stock worth $2,530,799 over the last three months. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ikarian Capital LLC raised its stake in Corbus Pharmaceuticals by 185.5% in the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after buying an additional 363,372 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $13,363,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $7,554,000. Altitude Crest Partners Inc. purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $4,069,000. Finally, Vanguard Group Inc. grew its holdings in shares of Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after buying an additional 257,808 shares during the last quarter. 64.64% of the stock is owned by 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.