Corbus Pharmaceuticals (NASDAQ:CRBP) Issues Earnings Results

Corbus Pharmaceuticals (NASDAQ:CRBP) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29, Yahoo Finance reports.

Corbus Pharmaceuticals Stock Performance

CRBP traded down $4.64 on Wednesday, hitting $48.30. 414,351 shares of the company were exchanged, compared to its average volume of 545,381. The stock’s fifty day moving average is $50.60 and its 200-day moving average is $40.18. The company has a market cap of $516.18 million, a PE ratio of -7.03 and a beta of 2.59. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $61.90.

Analysts Set New Price Targets

A number of research analysts have commented on CRBP shares. B. Riley initiated coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They set a “buy” rating and a $85.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday. Wedbush initiated coverage on shares of Corbus Pharmaceuticals in a report on Tuesday, July 30th. They set an “outperform” rating and a $85.00 target price for the company. StockNews.com raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

Insider Transactions at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at $4,234,348. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,733 shares of company stock worth $2,530,799. Company insiders own 4.00% of the company’s stock.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.