RBC Capital Maintains a Hold Rating on Corbus Pharmaceuticals (CRBP)
RBC Capital analyst Brian Abrahams maintained a Hold rating on Corbus Pharmaceuticals (CRBP) yesterday and set a price target of $2.00. The company’s shares closed last Tuesday at $1.22, close to its 52-week low of $0.91.
According to TipRanks.com, Abrahams is a 4-star analyst with an average return of 8.2% and a 48.3% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Intra-Cellular Therapies, Karyopharm Therapeutics, and Vertex Pharmaceuticals.
The word on The Street in general, suggests a Hold analyst consensus rating for Corbus Pharmaceuticals with a $2.18 average 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.