Equities analysts expect that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will post $1.66 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Corbus Pharmaceuticals’ earnings. The highest sales estimate is $1.90 million and the lowest is $1.28 million. Corbus Pharmaceuticals posted sales of $800,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 107.5%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, November 8th.
On average, analysts expect that Corbus Pharmaceuticals will report full-year sales of $5.74 million for the current financial year, with estimates ranging from $5.38 million to $6.25 million. For the next year, analysts expect that the business will post sales of $9.09 million, with estimates ranging from $7.16 million to $12.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. The company had revenue of $0.85 million during the quarter, compared to the consensus estimate of $1.90 million.
Several equities research analysts recently commented on CRBP shares. BidaskClub raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. Cantor Fitzgerald set a $32.00 price objective on shares of Corbus Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, ValuEngine raised shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. One 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 stock presently has an average rating of “Buy” and an average target price of $25.50.
A number of large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its position 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 buying an additional 12,380 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Corbus Pharmaceuticals by 13.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,573 shares of the biopharmaceutical company’s stock worth $554,000 after buying an additional 12,700 shares in the last quarter. Alps Advisors Inc. lifted its position in Corbus Pharmaceuticals by 22.1% during the 3rd quarter. Alps Advisors Inc. now owns 101,232 shares of the biopharmaceutical company’s stock worth $764,000 after buying an additional 18,305 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Corbus Pharmaceuticals by 15.8% during the 1st quarter. Allianz Asset Management GmbH now owns 137,624 shares of the biopharmaceutical company’s stock worth $840,000 after buying an additional 18,778 shares in the last quarter. Finally, Barclays PLC lifted its position in Corbus Pharmaceuticals by 237.5% during the 1st quarter. Barclays PLC now owns 28,302 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 19,917 shares in the last quarter. 42.69% of the stock is currently owned by hedge funds and other institutional investors.
CRBP traded up $0.40 during trading on Friday, hitting $7.70. The company had a trading volume of 100,397 shares, compared to its average volume of 1,143,557. The stock has a market capitalization of $416.46 million, a P/E ratio of -11.77 and a beta of 2.16. Corbus Pharmaceuticals has a one year low of $4.50 and a one year high of $9.95.
Corbus Pharmaceuticals Company Profile
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.
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