Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Investment analysts at Jefferies Financial Group boosted their Q2 2019 earnings per share estimates for shares of Corbus Pharmaceuticals in a research note issued on Monday, May 13th. Jefferies Financial Group analyst M. Raycroft now expects that the biopharmaceutical company will post earnings of ($0.31) per share for the quarter, up from their previous forecast of ($0.35). Jefferies Financial Group currently has a “Buy” rating and a $18.00 target price on the stock. Jefferies Financial Group also issued estimates for Corbus Pharmaceuticals’ Q3 2019 earnings at ($0.32) EPS, Q4 2019 earnings at ($0.33) EPS, FY2019 earnings at ($1.39) EPS, FY2020 earnings at ($1.88) EPS, FY2021 earnings at ($2.25) EPS, FY2022 earnings at ($0.31) EPS and FY2023 earnings at $0.62 EPS.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Friday, March 22nd. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 28th. Cantor Fitzgerald restated a “buy” rating and set a $38.00 price target on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 12th. HC Wainwright restated a “buy” rating and set a $24.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, May 10th. Finally, BidaskClub upgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Corbus Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $23.59.
Shares of Corbus Pharmaceuticals stock opened at $7.30 on Thursday. The company has a current ratio of 1.78, a quick ratio of 2.45 and a debt-to-equity ratio of 0.17. Corbus Pharmaceuticals has a 12-month low of $4.50 and a 12-month high of $9.11. The company has a market cap of $464.76 million, a price-to-earnings ratio of -7.45 and a beta of 2.12.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.45). Corbus Pharmaceuticals had a negative net margin of 1,219.36% and a negative return on equity of 166.99%. The company had revenue of $1.89 million for the quarter, compared to analyst estimates of $20.97 million.
In other Corbus Pharmaceuticals news, insider Barbara White acquired 4,638 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the completion of the purchase, the insider now directly owns 184,159 shares of the company’s stock, valued at $1,191,508.73. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 10,763 shares of company stock worth $71,820 in the last quarter. Company insiders own 8.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CRBP. ETF Managers Group LLC acquired a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth $23,276,000. BlackRock Inc. increased its stake in shares of Corbus Pharmaceuticals by 31.7% in the third quarter. BlackRock Inc. now owns 5,220,146 shares of the biopharmaceutical company’s stock worth $39,412,000 after acquiring an additional 1,256,503 shares during the period. General American Investors Co. Inc. acquired a new stake in shares of Corbus Pharmaceuticals in the first quarter worth $3,874,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth $3,125,000. Finally, Morgan Stanley increased its stake in shares of Corbus Pharmaceuticals by 24.9% in the third quarter. Morgan Stanley now owns 882,068 shares of the biopharmaceutical company’s stock worth $6,659,000 after acquiring an additional 175,705 shares during the period. Hedge funds and other institutional investors own 35.19% of the company’s stock.
About Corbus Pharmaceuticals
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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