Equities analysts predict that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will post sales of $4.64 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Corbus Pharmaceuticals’ earnings, with the highest sales estimate coming in at $9.90 million and the lowest estimate coming in at $1.93 million. Corbus Pharmaceuticals reported sales of $1.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 140.4%. The company is expected to report its next earnings results on Tuesday, March 10th.
According to Zacks, analysts expect that Corbus Pharmaceuticals will report full-year sales of $37.72 million for the current year, with estimates ranging from $34.00 million to $43.50 million. For the next fiscal year, analysts forecast that the company will post sales of $8.24 million, with estimates ranging from $4.82 million to $10.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.04. The company 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 175.16% and a negative return on equity of 169.38%.
Several hedge funds have recently made changes to their positions in CRBP. D.A. Davidson & CO. boosted its holdings in Corbus Pharmaceuticals by 8.0% in the third quarter. D.A. Davidson & CO. now owns 54,600 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 4,066 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Corbus Pharmaceuticals by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 210,134 shares of the biopharmaceutical company’s stock valued at $1,456,000 after buying an additional 4,115 shares during the period. Aperio Group LLC bought a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $29,000. Wells Fargo & Company MN boosted its stake in shares of Corbus Pharmaceuticals by 7.1% in the 2nd quarter. Wells Fargo & Company MN now owns 103,549 shares of the biopharmaceutical company’s stock worth $717,000 after buying an additional 6,820 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Corbus Pharmaceuticals by 56.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,272 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 6,922 shares during the last quarter. Hedge funds and other institutional investors own 49.23% of the company’s stock.
Corbus Pharmaceuticals stock traded up $0.14 during trading hours on Thursday, hitting $4.77. The stock had a trading volume of 390,039 shares, compared to its average volume of 994,211. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $311.06 million, a P/E ratio of -4.87 and a beta of 1.81. Corbus Pharmaceuticals has a 12-month low of $4.18 and a 12-month high of $9.11. The stock’s 50-day moving average price is $4.84 and its 200-day moving average price is $5.78.
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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