Equities Analysts Set Expectations for Corbus Pharmaceuticals Holdings Inc’s Q1 2019 Earnings (CRBP)

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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Stock analysts at B. Riley dropped their Q1 2019 EPS estimates for Corbus Pharmaceuticals in a research note issued on Wednesday, March 20th. B. Riley analyst G. Zavoico now forecasts that the biopharmaceutical company will post earnings of $0.15 per share for the quarter, down from their prior estimate of $0.19. B. Riley also issued estimates for Corbus Pharmaceuticals’ Q2 2019 earnings at ($0.34) EPS, Q3 2019 earnings at ($0.29) EPS, Q4 2019 earnings at ($0.30) EPS, FY2019 earnings at ($0.80) EPS, FY2020 earnings at ($1.12) EPS and FY2021 earnings at $0.28 EPS.

A number of other brokerages also recently commented on CRBP. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 target price (up previously from $36.00) on shares of Corbus Pharmaceuticals in a research note on Friday, January 11th. ValuEngine raised Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research cut Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. CIBC assumed coverage on Corbus Pharmaceuticals in a report on Wednesday. They issued an “outperform” rating and a $28.00 price target for the company. Finally, BidaskClub upgraded Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $24.36.

Shares of CRBP stock opened at $7.68 on Friday. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.11. The firm has a market cap of $467.51 million, a PE ratio of -7.84 and a beta of 2.17.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Corbus Pharmaceuticals had a negative net margin of 1,154.52% and a negative return on equity of 116.34%. The business had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $1.99 million.

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in Corbus Pharmaceuticals by 5,967.8% during the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 8,892 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Corbus Pharmaceuticals by 357.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 13,265 shares during the period. D.A. Davidson & CO. acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter worth $156,000. Bank of America Corp DE increased its holdings in Corbus Pharmaceuticals by 6.7% during the 4th quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 2,335 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in 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. 40.27% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Barbara White purchased 4,638 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $6.47 per share, with a total value of $30,007.86. Following the purchase, the insider now directly owns 184,159 shares in the company, valued at approximately $1,191,508.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 8,668 shares of company stock worth $56,923 over the last quarter. Corporate insiders own 12.60% of the company’s stock.

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-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.

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