Corbus Pharmaceuticals (CRBP) Posts Earnings Results, Misses Estimates By $0.07 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07), MarketWatch Earnings reports. The firm had revenue of $1.93 million for the quarter, compared to the consensus estimate of $1.99 million.

Shares of CRBP stock traded up $0.43 on Wednesday, reaching $6.49. 793,840 shares of the company were exchanged, compared to its average volume of 1,690,048. Corbus Pharmaceuticals has a one year low of $4.50 and a one year high of $9.11. The stock has a market capitalization of $346.92 million, a PE ratio of -9.98 and a beta of 2.24.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings in shares of Corbus Pharmaceuticals by 5,967.8% in the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 8,892 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Corbus Pharmaceuticals by 357.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 13,265 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter worth about $156,000. Bank of America Corp DE raised its holdings in shares of Corbus Pharmaceuticals by 6.7% in the 4th quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock worth $218,000 after acquiring an additional 2,335 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Corbus Pharmaceuticals by 52.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 12,380 shares during the last quarter. Institutional investors own 45.45% of the company’s stock.



CRBP has been the topic of a number of research analyst reports. ValuEngine cut shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 24th. HC Wainwright initiated coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, December 26th. They set a “buy” rating and a $24.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $38.00 price objective (up previously from $36.00) on shares of Corbus Pharmaceuticals in a research report on Friday, January 11th. Royal Bank of Canada initiated coverage on shares of Corbus Pharmaceuticals in a research report on Friday, December 7th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, BidaskClub raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, December 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.75.

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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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Earnings History for Corbus Pharmaceuticals (NASDAQ:CRBP)

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