Corbus Pharmaceuticals Holdings, Inc. Forecasted to Earn Q2 2024 Earnings of ($0.92) Per Share (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) – Stock analysts at B. Riley issued their Q2 2024 earnings estimates for Corbus Pharmaceuticals in a research report issued on Tuesday, June 25th. B. Riley analyst K. Patel forecasts that the biopharmaceutical company will post earnings per share of ($0.92) for the quarter. B. Riley has a “Buy” rating and a $85.00 price objective on the stock. The consensus estimate for Corbus Pharmaceuticals’ current full-year earnings is ($5.11) per share. B. Riley also issued estimates for Corbus Pharmaceuticals’ Q3 2024 earnings at ($0.92) EPS, Q4 2024 earnings at ($0.92) EPS, FY2024 earnings at ($3.61) EPS, FY2025 earnings at ($3.94) EPS, FY2026 earnings at ($3.50) EPS, FY2027 earnings at ($3.90) EPS and FY2028 earnings at ($4.49) EPS.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Royal Bank of Canada increased their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Jefferies Financial Group raised shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.00 to $46.00 in a research note on Wednesday, March 6th. Finally, Oppenheimer upped their target price on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.25.

Corbus Pharmaceuticals Stock Up 3.1 %

NASDAQ:CRBP opened at $45.25 on Friday. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $55.41. The stock’s fifty day moving average is $43.05 and its two-hundred day moving average is $30.70. The stock has a market capitalization of $483.72 million, a price-to-earnings ratio of -6.50 and a beta of 2.52.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.26.

Insiders Place Their Bets

In other news, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the transaction, the chief financial officer now owns 48,605 shares in the company, valued at approximately $2,047,242.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Yuval Cohen sold 11,103 shares of Corbus Pharmaceuticals stock in a transaction on Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the sale, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at $3,884,088. The disclosure for this sale can be found here. Insiders have sold a total of 51,733 shares of company stock worth $2,530,799 in the last quarter. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRBP. Ikarian Capital LLC raised its position in shares of Corbus Pharmaceuticals by 185.5% during the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after acquiring an additional 363,372 shares in the last quarter. Vanguard Group Inc. increased its stake in Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Corbus Pharmaceuticals during the first quarter worth approximately $13,363,000. Assenagon Asset Management S.A. purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $10,181,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at $7,554,000. 64.64% of the stock is owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.