Corbus Pharmaceuticals Received its Third Buy in a RowBy Ryan Adsit
After Noble Financial and Cantor Fitzgerald assigned a Buy rating to Corbus Pharmaceuticals in the last month, the company received another Buy, this time from JMP Securities. Analyst Liisa Bayko reiterated a Buy rating on Corbus Pharmaceuticals (NASDAQ: CRBP) today. The company’s shares opened today at $5.85.
According to TipRanks.com, Bayko is a 4-star analyst with an average return of 4.3% and a 53.0% success rate. Bayko covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Anthera Pharmaceuticals, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Corbus Pharmaceuticals is Strong Buy and the average price target is $17, representing a 190.6% upside.
In a report issued on November 7, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $17 price target.
Based on Corbus Pharmaceuticals’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $396.6K and GAAP net loss of $4.19 million. In comparison, last year the company earned revenue of $170.5K and had a GAAP net loss of $2.25 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRBP in relation to earlier this year. Most recently, in September 2016, Sean Moran, the CFO of CRBP bought 30,800 shares for a total of $157,696.
Corbus Pharmaceuticals Holdings, Inc. engages in the development and commercialization of novel therapeutics to treat rare or uncommon chronic and serious inflammatory and fibrotic diseases with clear unmet medical needs. Its product Resunab, is a novel synthetic oral endocannabinoid-mimetic drug that is designed to resolve chronic inflammation and halt fibrotic processes without causing immunosuppression. The company was founded in December 2013 and is headquartered in Norwood, MA.