Corbus Pharmaceuticals (NASDAQ:CRBP) Cut to Strong Sell at BidaskClub

BidaskClub cut shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a sell rating to a strong sell rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other brokerages have also issued reports on CRBP. Zacks Investment Research lowered Corbus Pharmaceuticals from a buy rating to a hold rating in a research report on Friday, November 8th. ValuEngine lowered Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $23.00 target price on shares of Corbus Pharmaceuticals in a research report on Sunday, August 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $23.71.

Shares of CRBP traded down $0.08 during trading on Thursday, reaching $4.37. The company’s stock had a trading volume of 552,300 shares, compared to its average volume of 1,015,469. The company has a fifty day moving average of $4.88 and a two-hundred day moving average of $5.98. Corbus Pharmaceuticals has a twelve month low of $4.18 and a twelve month high of $9.11. The company has a market cap of $278.09 million, a price-to-earnings ratio of -4.46 and a beta of 1.87. The company has a quick ratio of 2.56, a current ratio of 1.88 and a debt-to-equity ratio of 0.27.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.04. Corbus Pharmaceuticals had a negative return on equity of 169.38% and a negative net margin of 175.16%. The company had revenue of $2.59 million for the quarter, compared to analyst estimates of $1.73 million. As a group, equities analysts forecast that Corbus Pharmaceuticals will post -1.06 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its position in shares of Corbus Pharmaceuticals by 8.0% during the 3rd quarter. D.A. Davidson & CO. now owns 54,600 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 4,066 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter valued at approximately $1,062,000. California Public Employees Retirement System raised its position in shares of Corbus Pharmaceuticals by 40.5% during the 3rd quarter. California Public Employees Retirement System now owns 28,676 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 8,270 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Corbus Pharmaceuticals by 16.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 95,811 shares of the biopharmaceutical company’s stock valued at $664,000 after acquiring an additional 13,828 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Corbus Pharmaceuticals by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,080,166 shares of the biopharmaceutical company’s stock valued at $21,346,000 after acquiring an additional 220,625 shares in the last quarter. 50.77% of the stock is currently owned by institutional investors and hedge funds.

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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