Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Research analysts at B. Riley upped their Q1 2019 earnings estimates for shares of Corbus Pharmaceuticals in a research report issued on Monday, March 11th. B. Riley analyst G. Zavoico now anticipates that the biopharmaceutical company will post earnings of $0.19 per share for the quarter, up from their prior estimate of ($0.23). B. Riley also issued estimates for Corbus Pharmaceuticals’ Q2 2019 earnings at ($0.26) EPS, Q3 2019 earnings at ($0.26) EPS, Q4 2019 earnings at ($0.27) EPS, FY2019 earnings at ($0.61) EPS, FY2020 earnings at ($1.05) EPS, FY2021 earnings at ($0.68) EPS, FY2022 earnings at $3.25 EPS and FY2023 earnings at $8.22 EPS.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $1.99 million. Corbus Pharmaceuticals had a negative net margin of 1,154.52% and a negative return on equity of 101.91%.
CRBP has been the topic of several other research reports. ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, January 4th. BidaskClub cut Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $38.00 price target (up previously from $36.00) on shares of Corbus Pharmaceuticals in a report on Friday, January 11th. Finally, Royal Bank of Canada initiated coverage on Corbus Pharmaceuticals in a report on Friday, December 7th. They issued an “outperform” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $22.90.
NASDAQ CRBP opened at $6.70 on Thursday. The firm has a market capitalization of $391.00 million, a price-to-earnings ratio of -6.84 and a beta of 2.17. Corbus Pharmaceuticals has a 1 year low of $4.50 and a 1 year high of $9.11.
In other news, insider Barbara White bought 4,638 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $6.47 per share, with a total value of $30,007.86. Following the purchase, the insider now directly owns 184,159 shares in the company, valued at $1,191,508.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 8,668 shares of company stock worth $56,923. Company insiders own 12.60% of the company’s stock.
Large investors have recently made changes to their positions in the business. Barclays PLC raised its stake in Corbus Pharmaceuticals by 5,967.8% during the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 8,892 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Corbus Pharmaceuticals by 357.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 13,265 shares during the period. D.A. Davidson & CO. acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter valued at $156,000. Bank of America Corp DE raised its stake in Corbus Pharmaceuticals by 6.7% during the 4th quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 2,335 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Corbus Pharmaceuticals by 52.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 12,380 shares during the period. 45.31% of the stock is currently owned by institutional investors.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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