FY2019 EPS Estimates for Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) Lifted by Jefferies Financial Group

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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Equities research analysts at Jefferies Financial Group lifted their FY2019 EPS estimates for shares of Corbus Pharmaceuticals in a research report issued to clients and investors on Sunday, November 10th. Jefferies Financial Group analyst M. Raycroft now forecasts that the biopharmaceutical company will post earnings per share of ($1.11) for the year, up from their prior estimate of ($1.18). Jefferies Financial Group also issued estimates for Corbus Pharmaceuticals’ FY2021 earnings at ($2.04) EPS and FY2022 earnings at ($0.27) EPS.

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 analysts’ consensus estimates of ($0.36) by $0.04. The business had revenue of $2.59 million for the quarter, compared to analysts’ expectations of $1.73 million. Corbus Pharmaceuticals had a negative net margin of 175.16% and a negative return on equity of 159.16%.

A number of other equities research analysts have also commented on CRBP. ValuEngine lowered Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Zacks Investment Research lowered Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada restated a “buy” rating and set a $23.00 price target on shares of Corbus Pharmaceuticals in a research report on Sunday, August 11th. Finally, BidaskClub upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Corbus Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $23.71.

Shares of NASDAQ CRBP traded down $0.05 during midday trading on Wednesday, reaching $4.36. 1,818,500 shares of the stock were exchanged, compared to its average volume of 1,016,979. The firm has a market cap of $296.52 million, a price-to-earnings ratio of -4.45 and a beta of 1.87. Corbus Pharmaceuticals has a twelve month low of $4.18 and a twelve month high of $9.11. The firm has a 50-day simple moving average of $4.97 and a two-hundred day simple moving average of $6.07. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.15.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC bought a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $29,000. WINTON GROUP Ltd acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $97,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $123,000. JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 50.33% 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 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 and Estimates for Corbus Pharmaceuticals (NASDAQ:CRBP)

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