Analysts Expect Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) Will Announce Quarterly Sales of $4.64 Million

Share on StockTwits

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%.

CRBP has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $23.00 target price on shares of Corbus Pharmaceuticals in a research note on Sunday, August 11th. Zacks Investment Research lowered Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, BidaskClub upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Corbus Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $23.71.

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.

Featured Article: Hedge Funds – Risk or Reward?

Get a free copy of the Zacks research report on Corbus Pharmaceuticals (CRBP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Corbus Pharmaceuticals (NASDAQ:CRBP)

Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.