Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Analysts at Cantor Fitzgerald decreased their FY2019 earnings per share (EPS) estimates for Corbus Pharmaceuticals in a research report issued on Wednesday, March 13th. Cantor Fitzgerald analyst E. Piros now forecasts that the biopharmaceutical company will earn ($1.13) per share for the year, down from their previous estimate of ($1.04). Cantor Fitzgerald has a “Buy” rating and a $38.00 price target on the stock.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The business had revenue of $1.93 million for the quarter, compared to analyst estimates of $1.99 million. Corbus Pharmaceuticals had a negative return on equity of 101.91% and a negative net margin of 1,154.52%.
Shares of NASDAQ:CRBP opened at $6.83 on Friday. The firm has a market cap of $385.87 million, a price-to-earnings ratio of -6.97 and a beta of 2.17. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.11.
Institutional investors and hedge funds have recently made changes to their positions in the stock. ETF Managers Group LLC acquired a new position in Corbus Pharmaceuticals in the fourth quarter worth approximately $23,276,000. BlackRock Inc. grew its position in Corbus Pharmaceuticals by 31.7% during the third quarter. BlackRock Inc. now owns 5,220,146 shares of the biopharmaceutical company’s stock worth $39,412,000 after buying an additional 1,256,503 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Corbus Pharmaceuticals during the fourth quarter worth about $3,125,000. Fuller & Thaler Asset Management Inc. purchased a new position in Corbus Pharmaceuticals during the third quarter worth about $1,974,000. Finally, Morgan Stanley grew its position in Corbus Pharmaceuticals by 24.9% during the third quarter. Morgan Stanley now owns 882,068 shares of the biopharmaceutical company’s stock worth $6,659,000 after buying an additional 175,705 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.
In related news, insider Barbara White bought 4,638 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the transaction, the insider now directly owns 184,159 shares of the company’s stock, valued at approximately $1,191,508.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 7,668 shares of company stock valued at $49,943 in the last quarter. 12.60% of the stock is currently owned by insiders.
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-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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