Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Stock analysts at Cantor Fitzgerald lowered their FY2019 EPS estimates for shares of Corbus Pharmaceuticals in a report issued on Wednesday, March 13th. Cantor Fitzgerald analyst E. Piros now expects that the biopharmaceutical company will post earnings of ($1.13) per share for the year, down from their prior estimate of ($1.04). Cantor Fitzgerald currently has a “Buy” rating and a $38.00 target price on the stock.
A number of other research firms have also issued reports on CRBP. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 24th. BidaskClub raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Zacks Investment Research raised shares of Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective on the stock in a research note on Thursday. HC Wainwright assumed coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday, December 26th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Royal Bank of Canada began coverage on shares of Corbus Pharmaceuticals in a research note on Friday, December 7th. They set an “outperform” rating and a $23.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.90.
Shares of Corbus Pharmaceuticals stock opened at $6.83 on Friday. The company has a market capitalization of $385.87 million, a P/E ratio of -6.97 and a beta of 2.17. Corbus Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $9.11.
Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The company had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $1.99 million. Corbus Pharmaceuticals had a negative net margin of 1,154.52% and a negative return on equity of 101.91%.
In related news, insider Barbara White purchased 4,638 shares of Corbus Pharmaceuticals stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the acquisition, 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 available through this link. In the last quarter, insiders have bought 7,668 shares of company stock worth $49,943. Insiders own 12.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its position in Corbus Pharmaceuticals by 5,967.8% in the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 8,892 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Corbus Pharmaceuticals by 357.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 13,265 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Corbus Pharmaceuticals in the third quarter valued at approximately $156,000. Bank of America Corp DE boosted its holdings in Corbus Pharmaceuticals by 6.7% in the fourth quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 2,335 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Corbus Pharmaceuticals by 52.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 12,380 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.
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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