Corbus Pharmaceuticals Holdings Inc (CRBP) Expected to Announce Quarterly Sales of $1.59 Million

Equities analysts forecast that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will post sales of $1.59 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Corbus Pharmaceuticals’ earnings, with estimates ranging from $1.28 million to $1.90 million. Corbus Pharmaceuticals reported sales of $800,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 98.8%. The company is scheduled to announce its next earnings report on Wednesday, November 14th.

On average, analysts expect that Corbus Pharmaceuticals will report full-year sales of $5.93 million for the current financial year, with estimates ranging from $5.60 million to $6.25 million. For the next fiscal year, analysts forecast that the business will report sales of $10.05 million per share, with estimates ranging from $7.60 million to $12.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Corbus Pharmaceuticals.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $0.85 million during the quarter, compared to analyst estimates of $1.90 million.

Several brokerages have recently issued reports on CRBP. BidaskClub downgraded Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. ValuEngine raised Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Cantor Fitzgerald set a $36.00 price target on Corbus Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, September 13th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.67.

Several large investors have recently modified their holdings of CRBP. Northern Trust Corp grew its position in Corbus Pharmaceuticals by 7.6% during the second quarter. Northern Trust Corp now owns 572,325 shares of the biopharmaceutical company’s stock worth $2,890,000 after buying an additional 40,356 shares in the last quarter. Millennium Management LLC acquired a new stake in Corbus Pharmaceuticals during the second quarter worth about $772,000. Nexthera Capital LP acquired a new stake in Corbus Pharmaceuticals during the second quarter worth about $678,000. Renaissance Technologies LLC acquired a new stake in Corbus Pharmaceuticals during the second quarter worth about $842,000. Finally, BlackRock Inc. grew its position in Corbus Pharmaceuticals by 8.6% during the second quarter. BlackRock Inc. now owns 3,963,643 shares of the biopharmaceutical company’s stock worth $20,015,000 after buying an additional 315,064 shares in the last quarter. 42.62% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CRBP opened at $6.95 on Monday. The stock has a market capitalization of $397.58 million, a PE ratio of -10.69 and a beta of 2.21. Corbus Pharmaceuticals has a 52-week low of $4.50 and a 52-week high of $9.95.

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-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.

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