Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Analysts at Jefferies Financial Group lifted their Q2 2019 earnings estimates for shares of Corbus Pharmaceuticals in a report released on Monday, May 13th. Jefferies Financial Group analyst M. Raycroft now forecasts that the biopharmaceutical company will post earnings per share of ($0.31) for the quarter, up from their prior forecast of ($0.35). Jefferies Financial Group currently has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Financial Group also issued estimates for Corbus Pharmaceuticals’ Q3 2019 earnings at ($0.32) EPS, Q4 2019 earnings at ($0.33) EPS, FY2019 earnings at ($1.39) EPS, FY2020 earnings at ($1.88) EPS, FY2021 earnings at ($2.25) EPS, FY2022 earnings at ($0.31) EPS and FY2023 earnings at $0.62 EPS.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.45). The company had revenue of $1.89 million during the quarter, compared to analyst estimates of $20.97 million. Corbus Pharmaceuticals had a negative return on equity of 166.99% and a negative net margin of 1,219.36%.
A number of other analysts have also weighed in on CRBP. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, May 10th. Zacks Investment Research lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday. BidaskClub lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 12th. Finally, ValuEngine raised shares of Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.59.
Shares of NASDAQ:CRBP opened at $7.20 on Thursday. The company has a market capitalization of $464.76 million, a PE ratio of -7.35 and a beta of 2.12. Corbus Pharmaceuticals has a twelve month low of $4.50 and a twelve month high of $9.11. The company has a quick ratio of 2.45, a current ratio of 1.78 and a debt-to-equity ratio of 0.17.
In other Corbus Pharmaceuticals news, insider Barbara White bought 4,638 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $6.47 per share, with a total value of $30,007.86. Following the completion of the purchase, the insider now directly owns 184,159 shares in the company, valued at $1,191,508.73. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have purchased 10,763 shares of company stock valued at $71,820. Company insiders own 8.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CRBP. Barclays PLC lifted its stake in Corbus Pharmaceuticals by 5,967.8% during the fourth 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 last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Corbus Pharmaceuticals by 72,906.3% during the first quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 11,665 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $97,000. Cetera Advisor Networks LLC acquired a new stake in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $98,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Corbus Pharmaceuticals by 357.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 13,265 shares during the period. 35.19% of the stock is owned by institutional investors and hedge funds.
Corbus Pharmaceuticals Company Profile
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 drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.
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