Noble Financial Believes CRBP Won’t Stop Here

By Jason Carr

Noble Financial analyst Mark Jordan reiterated a Buy rating on Corbus Pharmaceuticals (NASDAQ: CRBP) on March 14. The company’s shares closed yesterday at $9.45, close to its 52-week high of $10.78.

According to TipRanks.com, Jordan is a 3-star analyst with an average return of 2.8% and a 49.1% success rate. Jordan covers the Technology sector, focusing on stocks such as Comtech Telecommunications, OmniComm Systems Inc, and Innodata Isogen Inc.

Currently, the analyst consensus on Corbus Pharmaceuticals is Strong Buy and the average price target is $20, representing an 111.6% upside.

In a report issued on March 14, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $17 price target.

The company has a one year high of $10.78 and a one year low of $1.74. Currently, Corbus Pharmaceuticals has an average volume of 849K.

Based on the recent corporate insider activity of 19 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 December 2016, Barbara White, the CMO of CRBP bought 1,000 shares for a total of $7,750.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.