Corbus Pharmaceuticals Holdings Inc (CRBP) Expected to Announce Earnings of -$0.21 Per Share

Equities research analysts expect Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) to report earnings per share (EPS) of ($0.21) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Corbus Pharmaceuticals’ earnings, with estimates ranging from ($0.22) to ($0.20). Corbus Pharmaceuticals reported earnings per share of ($0.14) during the same quarter last year, which indicates a negative year over year growth rate of 50%. The company is expected to issue its next earnings report on Wednesday, November 14th.

On average, analysts expect that Corbus Pharmaceuticals will report full year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.80). For the next financial year, analysts forecast that the firm will report earnings of ($0.94) per share, with EPS estimates ranging from ($1.03) to ($0.85). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Corbus Pharmaceuticals.

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

CRBP has been the topic of several research analyst reports. Cantor Fitzgerald set a $36.00 target price on Corbus Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, September 20th. BidaskClub upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Finally, ValuEngine upgraded Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.67.

CRBP stock traded up $0.15 on Friday, hitting $7.20. 1,732,600 shares of the company’s stock were exchanged, compared to its average volume of 809,229. Corbus Pharmaceuticals has a 12-month low of $4.50 and a 12-month high of $9.95. The company has a market cap of $380.42 million, a price-to-earnings ratio of -10.79 and a beta of 2.21.

Hedge funds have recently made changes to their positions in the stock. ETF Managers Group LLC lifted its holdings in shares of Corbus Pharmaceuticals by 979.1% in the 1st quarter. ETF Managers Group LLC now owns 2,456,921 shares of the biopharmaceutical company’s stock valued at $14,496,000 after buying an additional 2,229,245 shares during the period. BlackRock Inc. lifted its holdings in shares of Corbus Pharmaceuticals by 8.6% in the 2nd quarter. BlackRock Inc. now owns 3,963,643 shares of the biopharmaceutical company’s stock valued at $20,015,000 after buying an additional 315,064 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $842,000. IFP Advisors Inc lifted its holdings in shares of Corbus Pharmaceuticals by 12.0% in the 2nd quarter. IFP Advisors Inc now owns 1,500,805 shares of the biopharmaceutical company’s stock valued at $7,579,000 after buying an additional 160,250 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $772,000. Hedge funds and other institutional investors own 42.62% of the company’s stock.

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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