Corbus Pharmaceuticals (NASDAQ:CRBP) – Analysts at Cantor Fitzgerald decreased their FY2018 earnings estimates for shares of Corbus Pharmaceuticals in a report issued on Tuesday, May 22nd. Cantor Fitzgerald analyst E. Piros now expects that the biopharmaceutical company will earn ($0.92) per share for the year, down from their previous estimate of ($0.89). Cantor Fitzgerald currently has a “Buy” rating and a $32.00 target price on the stock. Cantor Fitzgerald also issued estimates for Corbus Pharmaceuticals’ FY2019 earnings at ($0.99) EPS.
Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). The company had revenue of $0.95 million during the quarter, compared to analysts’ expectations of $6.25 million. Corbus Pharmaceuticals had a negative net margin of 1,040.41% and a negative return on equity of 76.01%.
CRBP has been the topic of a number of other reports. ValuEngine raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. BidaskClub raised shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Noble Financial reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Corbus Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $25.33.
Corbus Pharmaceuticals opened at $5.93 on Thursday, Marketbeat reports. The company has a market capitalization of $337.14 million, a PE ratio of -9.12 and a beta of 2.23. Corbus Pharmaceuticals has a 1 year low of $5.05 and a 1 year high of $9.95.
In related news, Director David P. Hochman purchased 5,000 shares of Corbus Pharmaceuticals stock in a transaction dated Monday, May 14th. The shares were acquired at an average cost of $5.48 per share, with a total value of $27,400.00. Following the purchase, the director now owns 459,500 shares of the company’s stock, valued at $2,518,060. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 25,456 shares of company stock worth $157,431 over the last three months. Insiders own 11.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CRBP. ETF Managers Group LLC increased its stake in Corbus Pharmaceuticals by 979.1% during the 1st quarter. ETF Managers Group LLC now owns 2,456,921 shares of the biopharmaceutical company’s stock worth $14,496,000 after buying an additional 2,229,245 shares during the period. BlackRock Inc. increased its position in shares of Corbus Pharmaceuticals by 38.4% in the 4th quarter. BlackRock Inc. now owns 3,594,865 shares of the biopharmaceutical company’s stock valued at $25,524,000 after purchasing an additional 996,767 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $2,663,000. IFP Advisors Inc increased its position in shares of Corbus Pharmaceuticals by 33.9% in the 1st quarter. IFP Advisors Inc now owns 1,340,555 shares of the biopharmaceutical company’s stock valued at $8,177,000 after purchasing an additional 339,750 shares during the last quarter. Finally, Artal Group S.A. increased its position in shares of Corbus Pharmaceuticals by 166.7% in the 4th quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $2,840,000 after purchasing an additional 250,000 shares during the last quarter. 42.08% of the stock is currently owned by hedge funds and other institutional investors.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc, a clinical stage pharmaceutical company, focuses on the development and commercialization of various therapeutic products to treat inflammatory and fibrotic diseases. The company's lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug that is in Phase III clinical trials for the treatment of systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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