Oppenheimer Sticks to Its Hold Rating for Corbus Pharmaceuticals (CRBP)

In a report released today, Leland Gershell from Oppenheimer maintained a Hold rating on Corbus Pharmaceuticals (CRBP). The company’s shares closed last Thursday at $1.23, close to its 52-week low of $1.04.

According to TipRanks.com, Gershell is a 3-star analyst with an average return of 1.9% and a 40.8% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals, BioMarin Pharmaceutical, and Anchiano Therapeutics.

Currently, the analyst consensus on Corbus Pharmaceuticals is a Hold with an average price target of $2.24, representing an 89.8% upside. In a report issued on October 6, Roth Capital also maintained a Hold rating on the stock with a $1.22 price target.

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Based on Corbus Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $286.3K and GAAP net loss of $38.11 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.

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