Corbus Pharmaceuticals (CRBP) received a Hold rating from Oppenheimer analyst Leland Gershell today. The company’s shares closed last Tuesday at $2.28.
According to TipRanks.com, Gershell is a 4-star analyst with an average return of 6.0% and a 42.9% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals, BioMarin Pharmaceutical, and Miragen Therapeutics.
Currently, the analyst consensus on Corbus Pharmaceuticals is a Moderate Buy with an average price target of $16.75, which is a 651.1% upside from current levels. In a report released today, Roth Capital also downgraded the stock to Hold with a $3.00 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 $29.09 million and had a net profit of $2.15 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.
