Zacks: Brokerages Await Corbus Pharmaceuticals Stake Inc (CRBP) Will Post Quarterly Sales of $2.29 Million

Zacks: Brokerages Await Corbus Pharmaceuticals Stake Inc (CRBP) Will Post Quarterly Sales of $2.29 Million

Analysts expect that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will report $2.29 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Corbus Pharmaceuticals’ earnings. The lowest sales estimate is $1.79 million and the highest is $3.17 million. The company is expected to issue its next quarterly earnings report on Monday, March 11th.

On average, analysts expect that Corbus Pharmaceuticals will report full-year sales of $5.48 million for the current fiscal year, with estimates ranging from $4.80 million to $6.25 million. For the next year, analysts anticipate that the company will report sales of $9.09 million, with estimates ranging from $7.16 million to $12.50 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Corbus Pharmaceuticals.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). The company had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $1.66 million.

A number of research firms recently weighed in on CRBP. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, October 22nd. ValuEngine lowered shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 10th. BidaskClub raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. Finally, B. Riley began coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, October 24th. They issued a “buy” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $27.33.

Shares of CRBP stock traded up $0.26 on Tuesday, reaching $6.90. The company’s stock had a trading volume of 441,612 shares, compared to its average volume of 622,238. Corbus Pharmaceuticals has a 1 year low of $4.50 and a 1 year high of $9.95. The firm has a market cap of $394.94 million, a PE ratio of -10.62 and a beta of 2.16.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake 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 during the period. Vanguard Group Inc. boosted its stake in Corbus Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,390,014 shares of the biopharmaceutical company’s stock worth $18,045,000 after buying an additional 11,609 shares during the period. IFP Advisors Inc boosted its stake in Corbus Pharmaceuticals by 12.0% during the second quarter. IFP Advisors Inc now owns 1,500,805 shares of the biopharmaceutical company’s stock worth $7,579,000 after buying an additional 160,250 shares during the period. Morgan Stanley boosted its stake 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 during the period. Finally, Northern Trust Corp boosted its stake in Corbus Pharmaceuticals by 7.6% during the second quarter. Northern Trust Corp now owns 572,325 shares of the biopharmaceutical company’s stock worth $2,890,000 after buying an additional 40,356 shares during the period. 42.14% of the stock is owned by 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.

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