$10.32 Million in Sales Expected for Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) This Quarter

Brokerages expect Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) to post sales of $10.32 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Corbus Pharmaceuticals’ earnings. The highest sales estimate is $29.50 million and the lowest is $850,000.00. Corbus Pharmaceuticals posted sales of $850,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1,114.1%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Corbus Pharmaceuticals will report full-year sales of $25.96 million for the current financial year, with estimates ranging from $4.82 million to $35.40 million. For the next financial year, analysts expect that the company will report sales of $8.32 million, with estimates ranging from $4.82 million to $12.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Corbus Pharmaceuticals.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.45). Corbus Pharmaceuticals had a negative net margin of 1,219.36% and a negative return on equity of 166.99%. The firm had revenue of $1.89 million during the quarter, compared to analysts’ expectations of $20.97 million.

A number of equities research analysts have commented on the company. BidaskClub downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. HC Wainwright reissued a “buy” rating and issued a $24.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, May 10th. Zacks Investment Research raised Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.50 target price for the company in a report on Thursday, March 14th. ValuEngine raised Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group began coverage on Corbus Pharmaceuticals in a research note on Friday, April 5th. They set a “buy” rating and a $18.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $23.59.

NASDAQ:CRBP traded down $0.17 during midday trading on Friday, reaching $6.68. The stock had a trading volume of 39,205 shares, compared to its average volume of 740,434. The business’s fifty day simple moving average is $7.13. Corbus Pharmaceuticals has a 12-month low of $4.50 and a 12-month high of $9.11. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.17. The stock has a market cap of $458.92 million, a PE ratio of -6.81 and a beta of 2.01.

Several large investors have recently added to or reduced their stakes in the company. General American Investors Co. Inc. acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth $3,874,000. Geode Capital Management LLC increased its position in Corbus Pharmaceuticals by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 542,722 shares of the biopharmaceutical company’s stock worth $3,169,000 after purchasing an additional 28,582 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Corbus Pharmaceuticals during the 4th quarter worth about $3,125,000. Creative Planning increased its position in Corbus Pharmaceuticals by 19.2% during the 1st quarter. Creative Planning now owns 237,834 shares of the biopharmaceutical company’s stock worth $1,653,000 after purchasing an additional 38,263 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Corbus Pharmaceuticals by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 194,374 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 16,305 shares in the last quarter. 36.66% of the stock is owned by institutional investors and hedge funds.

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.

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