Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) – Analysts at Cantor Fitzgerald cut their FY2017 EPS estimates for Corbus Pharmaceuticals Holdings in a note issued to investors on Tuesday, according to Zacks Investment Research. Cantor Fitzgerald analyst E. Piros now anticipates that the biopharmaceutical company will earn ($0.67) per share for the year, down from their prior estimate of ($0.49). Cantor Fitzgerald currently has a “Buy” rating and a $24.00 target price on the stock.
Several other brokerages have also recently issued reports on CRBP. Noble Financial reissued a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research note on Sunday, March 12th. JMP Securities reissued an “outperform” rating and issued a $27.00 price objective (up from $20.00) on shares of Corbus Pharmaceuticals Holdings in a research note on Monday, April 3rd.
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Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) traded down 2.99% on Thursday, hitting $6.50. 828,775 shares of the company’s stock were exchanged. The company’s market cap is $316.56 million. The company’s 50-day moving average price is $8.46 and its 200-day moving average price is $7.84. Corbus Pharmaceuticals Holdings has a 12-month low of $2.10 and a 12-month high of $10.78.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last posted its quarterly earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.06. The company earned $0.38 million during the quarter, compared to analysts’ expectations of $1.50 million. Corbus Pharmaceuticals Holdings had a negative return on equity of 128.85% and a negative net margin of 785.22%.
Several institutional investors have recently bought and sold shares of CRBP. Milestone Group Inc. bought a new position in Corbus Pharmaceuticals Holdings during the third quarter worth $102,000. Bainco International Investors bought a new position in Corbus Pharmaceuticals Holdings during the third quarter worth $136,000. Evanson Asset Management LLC boosted its position in Corbus Pharmaceuticals Holdings by 1.8% in the first quarter. Evanson Asset Management LLC now owns 20,360 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 360 shares during the period. Private Advisor Group LLC bought a new position in Corbus Pharmaceuticals Holdings during the fourth quarter worth $201,000. Finally, Highbridge Capital Management LLC bought a new position in Corbus Pharmaceuticals Holdings during the fourth quarter worth $450,000. 25.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Barbara White purchased 4,233 shares of the stock in a transaction dated Friday, March 17th. The shares were acquired at an average cost of $9.49 per share, with a total value of $40,171.17. Following the purchase, the insider now directly owns 166,300 shares in the company, valued at approximately $1,578,187. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.60% of the company’s stock.
Corbus Pharmaceuticals Holdings Company Profile
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
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