Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) has slipped in the last month, due to heavy short selling. However, for those traders who are looking for long term growth rather than a fast turnaround, this still looks like one of the most compelling cannabis-related stocks on the market.
Corbus is a pharmaceutical research and development company that is creating the next generation of endocannabinoid medications. Product candidates are being designed to treat conditions like dermatomyositis, cystic fibrosis, lupus, and chronic inflammation. You may already be familiar with this stock based on previous recommendations.
This stock is again worth a look in June, especially if you still haven’t invested. Short sellers have sent the price tumbling in recent weeks, making today a strong opportunity to buy. This stock is unique compared to the average marijuana stock. Research doesn’t rely heavily on a legalized cannabis, as cannabinoids can potentially be synthesized for medical use. The FDA has so far granted approval for a single cannabinoid-based medication, opening the door for companies like Corbus to develop novel treatments that interact with the body’s endocannabinoid system.
Analysts are confident that this stock can grow in the next year. The current average 52-week price target of $22 suggests an upside of more than 200%. This is one highly promising stock that deserves to be in a well-diversified alternative investment portfolio.
- 1 Year Price Growth: 17%
- YTD Price Growth: 38%
- 3 Month Price Growth: 05%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.