Equities analysts expect that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will report $2.01 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Corbus Pharmaceuticals’ earnings, with estimates ranging from $1.93 million to $2.10 million. Corbus Pharmaceuticals reported sales of $1.93 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The firm is expected to report its next quarterly earnings results on Tuesday, March 10th.
On average, analysts expect that Corbus Pharmaceuticals will report full year sales of $34.73 million for the current year, with estimates ranging from $34.00 million to $35.18 million. For the next fiscal year, analysts expect that the company will post sales of $7.61 million, with estimates ranging from $4.82 million to $10.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.04. The company had revenue of $2.59 million for the quarter, compared to analysts’ expectations of $1.73 million. Corbus Pharmaceuticals had a negative return on equity of 139.91% and a negative net margin of 164.68%.
Shares of NASDAQ:CRBP traded up $0.08 during trading on Tuesday, hitting $4.59. The company’s stock had a trading volume of 1,208,800 shares, compared to its average volume of 1,013,153. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.56 and a current ratio of 2.56. Corbus Pharmaceuticals has a fifty-two week low of $4.19 and a fifty-two week high of $9.11. The stock’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $6.11. The company has a market capitalization of $329.72 million, a PE ratio of -4.68 and a beta of 1.87.
In other Corbus Pharmaceuticals news, COO Robert Paul Discordia purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $5.86 per share, for a total transaction of $87,900.00. Following the completion of the purchase, the chief operating officer now owns 30,150 shares in the company, valued at approximately $176,679. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 19,175 shares of company stock worth $112,241. Insiders own 8.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC bought a new stake in Corbus Pharmaceuticals in the second quarter valued at about $29,000. WINTON GROUP Ltd bought a new stake in Corbus Pharmaceuticals in the second quarter valued at about $97,000. Parametric Portfolio Associates LLC bought a new stake in Corbus Pharmaceuticals in the second quarter valued at about $123,000. JPMorgan Chase & Co. increased its holdings in Corbus Pharmaceuticals by 56.0% in the second quarter. JPMorgan Chase & Co. now owns 19,272 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 6,922 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Corbus Pharmaceuticals by 40.5% in the third quarter. California Public Employees Retirement System now owns 28,676 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 8,270 shares during the last quarter. 49.98% of the stock is owned by hedge funds and other institutional investors.
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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