BidaskClub Downgrades Corbus Pharmaceuticals (NASDAQ:CRBP) to Sell

BidaskClub lowered shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a hold rating to a sell rating in a research note published on Saturday, BidAskClub reports.

Several other equities research analysts also recently commented on CRBP. Oppenheimer set a $13.00 price objective on Alpine Immune Sciences and gave the stock a buy rating in a report on Tuesday, March 19th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Thursday, March 21st. Zacks Investment Research downgraded GreenTree Hospitality Group from a buy rating to a hold rating in a report on Monday, May 20th. CIBC assumed coverage on Veru in a report on Wednesday, March 20th. They issued an outperform rating and a $5.00 price objective for the company. Finally, HC Wainwright set a $126.00 price objective on AnaptysBio and gave the stock a buy rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $23.59.

NASDAQ CRBP opened at $6.36 on Friday. Corbus Pharmaceuticals has a one year low of $4.50 and a one year high of $9.11. The stock has a 50-day simple moving average of $6.92. The company has a market cap of $409.93 million, a P/E ratio of -6.49 and a beta of 1.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 1.78.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.45). Corbus Pharmaceuticals had a negative return on equity of 166.99% and a negative net margin of 1,219.36%. The business had revenue of $1.89 million during the quarter, compared to the consensus estimate of $20.97 million. On average, equities research analysts anticipate that Corbus Pharmaceuticals will post -1.2 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Corbus Pharmaceuticals by 5,967.8% during the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 8,892 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Corbus Pharmaceuticals by 72,906.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 11,665 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at about $97,000. WINTON GROUP Ltd bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at about $97,000. Finally, Cetera Advisor Networks LLC bought a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at about $98,000. Institutional investors and hedge funds own 36.69% 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 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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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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