Research Analysts Offer Predictions for Corbus Pharmaceuticals Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) – Research analysts at Wedbush issued their Q2 2024 EPS estimates for shares of Corbus Pharmaceuticals in a research note issued to investors on Monday, July 29th. Wedbush analyst R. Driscoll anticipates that the biopharmaceutical company will post earnings per share of ($0.80) for the quarter. Wedbush has a “Outperform” rating and a $85.00 price objective on the stock. The consensus estimate for Corbus Pharmaceuticals’ current full-year earnings is ($4.68) per share. Wedbush also issued estimates for Corbus Pharmaceuticals’ Q3 2024 earnings at ($0.84) EPS, Q4 2024 earnings at ($0.75) EPS, FY2024 earnings at ($3.20) EPS, FY2025 earnings at ($2.47) EPS, FY2026 earnings at ($4.38) EPS, FY2027 earnings at ($7.31) EPS and FY2028 earnings at ($6.29) EPS.

A number of other brokerages also recently issued reports on CRBP. StockNews.com raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada raised their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, July 22nd. B. Riley started coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.33.

Corbus Pharmaceuticals Stock Down 4.1 %

Shares of NASDAQ CRBP opened at $56.66 on Thursday. The firm’s 50-day moving average price is $50.20 and its 200-day moving average price is $39.06. The company has a market cap of $605.53 million, a PE ratio of -8.14 and a beta of 2.59. Corbus Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $61.90.

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

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc raised its position in shares of Corbus Pharmaceuticals by 92.5% during the second quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock valued at $1,846,000 after buying an additional 19,600 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals during the second quarter valued at approximately $638,000. Bank of New York Mellon Corp bought a new stake in shares of Corbus Pharmaceuticals during the second quarter valued at approximately $1,368,000. Ikarian Capital LLC increased its position in Corbus Pharmaceuticals by 185.5% in the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after purchasing an additional 363,372 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Corbus Pharmaceuticals in the first quarter worth $13,363,000. Institutional investors own 64.64% of the company’s stock.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the sale, the chief executive officer now owns 84,400 shares in the company, valued at approximately $4,234,348. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the sale, the chief executive officer now owns 84,400 shares in the company, valued at approximately $4,234,348. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $49.87, for a total transaction of $466,533.85. Following the sale, the chief financial officer now owns 48,605 shares in the company, valued at approximately $2,423,931.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,733 shares of company stock worth $2,530,799. Company insiders own 4.00% of the company’s stock.

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.