Corbus Pharmaceuticals (NASDAQ:CRBP) Releases Earnings Results, Beats Expectations By $0.04 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.04, Fidelity Earnings reports. The business had revenue of $2.59 million for the quarter, compared to the consensus estimate of $1.73 million. Corbus Pharmaceuticals had a negative net margin of 164.68% and a negative return on equity of 139.91%.

CRBP stock traded up $0.08 during mid-day trading on Friday, hitting $4.59. 1,208,800 shares of the company were exchanged, compared to its average volume of 1,013,153. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.56 and a current ratio of 2.56. The firm’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $6.11. Corbus Pharmaceuticals has a 1-year low of $4.19 and a 1-year high of $9.11. The firm has a market cap of $329.72 million, a P/E ratio of -4.68 and a beta of 1.87.

In related news, COO Robert Paul Discordia acquired 15,000 shares of Corbus Pharmaceuticals stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $5.86 per share, with a total value of $87,900.00. Following the completion of the transaction, the chief operating officer now directly owns 30,150 shares in the company, valued at approximately $176,679. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 19,175 shares of company stock valued at $112,241. Company insiders own 8.20% of the company’s stock.

CRBP has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $23.00 price target on shares of Corbus Pharmaceuticals in a research report on Sunday, August 11th. ValuEngine downgraded shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. Finally, BidaskClub upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $23.71.

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 for Corbus Pharmaceuticals (NASDAQ:CRBP)

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