Analysts Expect Corbus Pharmaceuticals Holdings Inc (CRBP) Will Post Quarterly Sales of $1.99 Million

Wall Street analysts forecast that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will announce sales of $1.99 million for the current quarter, Zacks reports. Four analysts have provided estimates for Corbus Pharmaceuticals’ earnings. The highest sales estimate is $3.17 million and the lowest is $1.09 million. The firm is expected to announce its next quarterly earnings report on Monday, March 11th.

According to Zacks, analysts expect that Corbus Pharmaceuticals will report full year sales of $5.10 million for the current financial year, with estimates ranging from $3.99 million to $6.25 million. For the next financial year, analysts expect that the business will post sales of $7.81 million, with estimates ranging from $3.99 million to $12.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Corbus Pharmaceuticals.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The company had revenue of $1.09 million during the quarter, compared to analyst estimates of $1.66 million.

Several analysts recently weighed in on CRBP shares. BidaskClub raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price objective (up previously from $36.00) on shares of Corbus Pharmaceuticals in a research note on Friday. B. Riley started coverage on Corbus Pharmaceuticals in a research note on Wednesday, October 24th. They set a “buy” rating and a $22.00 price objective on the stock. HC Wainwright started coverage on Corbus Pharmaceuticals in a research note on Wednesday, December 26th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, ValuEngine upgraded Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.20.

Institutional investors have recently bought and sold shares of the business. Nexthera Capital LP bought a new position in Corbus Pharmaceuticals during the 2nd quarter worth $678,000. Cambridge Investment Research Advisors Inc. increased its stake in Corbus Pharmaceuticals by 52.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 12,380 shares during the period. Woodstock Corp increased its stake in shares of Corbus Pharmaceuticals by 29.5% in the 3rd quarter. Woodstock Corp now owns 93,264 shares of the biopharmaceutical company’s stock valued at $704,000 after purchasing an additional 21,263 shares during the last quarter. Millennium Management LLC bought a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at $772,000. Finally, D.A. Davidson & CO. bought a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at $156,000. Hedge funds and other institutional investors own 43.87% of the company’s stock.

NASDAQ:CRBP opened at $8.14 on Friday. The company has a market cap of $440.73 million, a P/E ratio of -12.52 and a beta of 2.11. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.95.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.

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