Corbus Pharmaceuticals (CRBP) Announces Earnings Results, Misses Estimates By $0.05 EPS

Share on StockTwits

Corbus Pharmaceuticals (NASDAQ:CRBP) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05), MarketWatch Earnings reports. The business had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $1.66 million.

Shares of NASDAQ:CRBP traded down $0.26 on Friday, reaching $6.61. 942,460 shares of the company’s stock were exchanged, compared to its average volume of 1,131,068. Corbus Pharmaceuticals has a twelve month low of $4.50 and a twelve month high of $9.95. The firm has a market cap of $435.91 million, a PE ratio of -10.17 and a beta of 2.16.

Large investors have recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $144,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Corbus Pharmaceuticals by 52.7% during 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 in the last quarter. Trexquant Investment LP acquired a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $321,000. Royal Bank of Canada boosted its position in shares of Corbus Pharmaceuticals by 2,742.5% during the 1st quarter. Royal Bank of Canada now owns 51,961 shares of the biopharmaceutical company’s stock worth $317,000 after acquiring an additional 50,133 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Corbus Pharmaceuticals by 61.5% during the 3rd quarter. Alliancebernstein L.P. now owns 55,400 shares of the biopharmaceutical company’s stock worth $418,000 after acquiring an additional 21,100 shares in the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.

A number of research analysts have issued reports on CRBP shares. Cantor Fitzgerald set a $36.00 target price on shares of Corbus Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 1st. ValuEngine upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. B. Riley started coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 24th. They set a “buy” rating and a $22.00 target price on the stock. Finally, BidaskClub upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.33.

ILLEGAL ACTIVITY WARNING: This article was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.tickerreport.com/banking-finance/3929183/corbus-pharmaceuticals-crbp-announces-earnings-results-misses-estimates-by-0-05-eps.html.

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.

Further Reading: Technical Analysis

Earnings History for Corbus Pharmaceuticals (NASDAQ:CRBP)

Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Brokerages Set VF Corp  Target Price at $95.95
Brokerages Set VF Corp Target Price at $95.95
AO World  Receives “Sell” Rating from Shore Capital
AO World Receives “Sell” Rating from Shore Capital
Corbus Pharmaceuticals  Announces  Earnings Results, Misses Estimates By $0.05 EPS
Corbus Pharmaceuticals Announces Earnings Results, Misses Estimates By $0.05 EPS
Crown Crafts  Announces  Earnings Results, Meets Expectations
Crown Crafts Announces Earnings Results, Meets Expectations
IMI’s  Neutral Rating Reaffirmed at UBS Group
IMI’s Neutral Rating Reaffirmed at UBS Group
Northwest Natural  Downgraded to “Hold” at Zacks Investment Research
Northwest Natural Downgraded to “Hold” at Zacks Investment Research


Leave a Reply

© 2006-2018 Ticker Report