Corbus Pharmaceuticals (NASDAQ:CRBP) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.25, Morningstar.com reports. The firm had revenue of $29.10 million for the quarter, compared to the consensus estimate of $10.32 million. Corbus Pharmaceuticals had a negative return on equity of 149.05% and a negative net margin of 164.68%.

Shares of NASDAQ CRBP traded up $0.13 during trading hours on Friday, hitting $5.88. The company’s stock had a trading volume of 1,030,912 shares, compared to its average volume of 573,368. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $370.62 million, a PE ratio of -6.00 and a beta of 1.84. Corbus Pharmaceuticals has a 12 month low of $4.65 and a 12 month high of $9.11. The stock has a 50-day moving average price of $6.43.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Corbus Pharmaceuticals by 10.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 137,415 shares of the biopharmaceutical company’s stock worth $953,000 after purchasing an additional 13,312 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Corbus Pharmaceuticals by 56.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,272 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 6,922 shares in the last quarter. Wells Fargo & Company MN boosted its position in Corbus Pharmaceuticals by 7.1% during the 2nd quarter. Wells Fargo & Company MN now owns 103,549 shares of the biopharmaceutical company’s stock valued at $717,000 after acquiring an additional 6,820 shares in the last quarter. Aperio Group LLC bought a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Finally, AE Wealth Management LLC bought a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $755,000. 36.85% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on CRBP. ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. BidaskClub cut Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. HC Wainwright set a $24.00 target price on Corbus Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 24th. Zacks Investment Research raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $23.00 target price on shares of Corbus Pharmaceuticals in a research note on Sunday. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.47.

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 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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Earnings History for Corbus Pharmaceuticals (NASDAQ:CRBP)

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