Wall Street analysts forecast that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will report earnings per share of ($0.20) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Corbus Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.22). Corbus Pharmaceuticals also posted earnings per share of ($0.20) in the same quarter last year. The firm is expected to report its next earnings results on Monday, March 11th.
On average, analysts expect that Corbus Pharmaceuticals will report full year earnings of ($0.86) per share for the current fiscal year, with EPS estimates ranging from ($0.93) to ($0.80). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.94) per share, with EPS estimates ranging from ($1.04) to ($0.85). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The firm had revenue of $1.09 million for the quarter, compared to the consensus estimate of $1.66 million.
CRBP has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $32.00 target price on shares of Corbus Pharmaceuticals in a research note on Wednesday, August 8th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, BidaskClub raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $27.33.
Shares of CRBP stock traded up $0.26 on Friday, hitting $6.90. The stock had a trading volume of 441,612 shares, compared to its average volume of 622,238. Corbus Pharmaceuticals has a twelve month low of $4.50 and a twelve month high of $9.95. The firm has a market capitalization of $394.94 million, a price-to-earnings ratio of -10.62 and a beta of 2.16.
A number of hedge funds and other institutional investors have recently made changes to their positions in CRBP. Fox Run Management L.L.C. acquired a new position in Corbus Pharmaceuticals in the 2nd quarter worth $144,000. D.A. Davidson & CO. acquired a new position in Corbus Pharmaceuticals in the 3rd quarter worth $156,000. Cambridge Investment Research Advisors Inc. boosted its stake in 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 purchasing an additional 12,380 shares during the period. MetLife Investment Advisors LLC boosted its stake in Corbus Pharmaceuticals by 57.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 36,354 shares of the biopharmaceutical company’s stock worth $274,000 after purchasing an additional 13,265 shares during the period. Finally, Royal Bank of Canada boosted its stake in Corbus Pharmaceuticals by 2,742.5% in the 1st quarter. Royal Bank of Canada now owns 51,961 shares of the biopharmaceutical company’s stock worth $317,000 after purchasing an additional 50,133 shares during the period. 42.14% of the stock is owned by hedge funds and other institutional investors.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.
Recommended Story: Intrinsic Value and Stock Selection
Get a free copy of the Zacks research report on Corbus Pharmaceuticals (CRBP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com