Corbus Pharmaceuticals (NASDAQ:CRBP) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05), MarketWatch Earnings reports. The firm had revenue of $1.09 million during the quarter, compared to analyst estimates of $1.66 million.
NASDAQ CRBP traded down $0.26 during trading hours on Friday, hitting $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 12-month low of $4.50 and a 12-month high of $9.95. The company has a market capitalization of $435.91 million, a PE ratio of -10.17 and a beta of 2.16.
Several analysts have recently issued reports on CRBP shares. Cantor Fitzgerald set a $36.00 price objective on Corbus Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, October 1st. ValuEngine upgraded Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. B. Riley assumed coverage on 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 Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 1st. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $27.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRBP. BlackRock Inc. lifted its position in Corbus Pharmaceuticals by 31.7% during the third quarter. BlackRock Inc. now owns 5,220,146 shares of the biopharmaceutical company’s stock worth $39,412,000 after buying an additional 1,256,503 shares during the period. Renaissance Technologies LLC purchased a new position in Corbus Pharmaceuticals during the second quarter worth about $842,000. IFP Advisors Inc lifted its position in Corbus Pharmaceuticals by 12.0% during the second quarter. IFP Advisors Inc now owns 1,500,805 shares of the biopharmaceutical company’s stock worth $7,579,000 after buying an additional 160,250 shares during the period. Millennium Management LLC purchased a new position in Corbus Pharmaceuticals during the second quarter worth about $772,000. Finally, GSA Capital Partners LLP purchased a new position in Corbus Pharmaceuticals during the second quarter worth about $704,000. Hedge funds and other institutional investors own 42.69% of the company’s stock.
WARNING: This report was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/11/10/corbus-pharmaceuticals-crbp-posts-quarterly-earnings-results-misses-expectations-by-0-05-eps.html.
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.
Recommended Story: The Role of a Fiduciary and Individual Investors
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.