Corbus Pharmaceuticals (NASDAQ:CRBP) Announces Quarterly Earnings Results

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

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

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

In other Corbus Pharmaceuticals news, COO Robert Paul Discordia purchased 15,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $5.86 per share, for a total transaction of $87,900.00. Following the completion of the transaction, the chief operating officer now directly owns 30,150 shares of the company’s stock, valued at $176,679. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders bought 19,175 shares of company stock worth $112,241 over the last quarter. Company 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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