Corbus Pharmaceuticals (NASDAQ:CRBP) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.04, Fidelity Earnings reports. The company had revenue of $2.59 million for the quarter, compared to analysts’ expectations of $1.73 million. Corbus Pharmaceuticals had a negative return on equity of 139.91% and a negative net margin of 164.68%.

CRBP stock traded up $0.08 during trading on Friday, hitting $4.59. The company had a trading volume of 1,208,800 shares, compared to its average volume of 1,013,153. The stock has a market cap of $329.72 million, a PE ratio of -4.68 and a beta of 1.87. The business has a 50-day moving average of $5.02 and a 200-day moving average of $6.11. Corbus Pharmaceuticals has a one year low of $4.19 and a one year high of $9.11. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.15.

CRBP has been the topic of several research reports. BidaskClub upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. Royal Bank of Canada restated a “buy” rating and set a $23.00 price target on shares of Corbus Pharmaceuticals in a report on Sunday, August 11th. Zacks Investment Research cut Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Finally, ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.71.

In related news, COO Robert Paul Discordia purchased 15,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $5.86 per share, with a total value of $87,900.00. Following the transaction, the chief operating officer now owns 30,150 shares of the company’s stock, valued at approximately $176,679. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 19,175 shares of company stock valued at $112,241 over the last three months. 8.20% of the stock is currently owned by insiders.

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 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.

See Also: P/E Growth (PEG)

Earnings History for Corbus Pharmaceuticals (NASDAQ:CRBP)

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