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

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

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

A number of equities research analysts recently weighed in on CRBP shares. Zacks Investment Research cut Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $23.00 price target on shares of Corbus Pharmaceuticals in a report on Sunday, August 11th. One investment 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. Corbus Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $23.71.

In other news, COO Robert Paul Discordia purchased 15,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $5.86 per share, for a total transaction of $87,900.00. Following the completion of the acquisition, the chief operating officer now directly owns 30,150 shares in the company, valued at approximately $176,679. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders bought 19,175 shares of company stock worth $112,241. Corporate insiders own 8.20% of the company’s stock.

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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