Oppenheimer analyst Leland Gershell maintained a Buy rating on Corbus Pharmaceuticals (CRBP) today and set a price target of $23.00. The company’s shares closed last Thursday at $6.33.
According to TipRanks.com, Gershell is a 5-star analyst with an average return of 17.2% and a 51.1% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals, BioMarin Pharmaceutical, and Anchiano Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Corbus Pharmaceuticals with a $26.50 average price target, implying a 266.5% upside from current levels. In a report issued on July 26, Jefferies also maintained a Buy rating on the stock with a $18.00 price target.
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Based on Corbus Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.76 million and GAAP net loss of $29.66 million. In comparison, last year the company earned revenue of $1.89 million and had a GAAP net loss of $26.23 million.
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Corbus Pharmaceuticals Holdings, Inc. is a phase 3 clinical-stage pharmaceutical company, which focuses on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. The company was founded on December 18, 2013 and is headquartered in Norwood, MA.
