Brokerages forecast that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will announce sales of $1.39 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Corbus Pharmaceuticals’ earnings. The highest sales estimate is $1.93 million and the lowest is $850,000.00. Corbus Pharmaceuticals posted sales of $850,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 63.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Corbus Pharmaceuticals will report full year sales of $23.38 million for the current year, with estimates ranging from $4.82 million to $34.71 million. For the next year, analysts forecast that the company will post sales of $9.10 million, with estimates ranging from $4.82 million to $12.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Corbus Pharmaceuticals.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.45). Corbus Pharmaceuticals had a negative net margin of 1,219.36% and a negative return on equity of 167.34%. The company had revenue of $1.89 million for the quarter, compared to analyst estimates of $20.97 million.

A number of brokerages recently weighed in on CRBP. ValuEngine cut shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. Cantor Fitzgerald restated a “buy” rating and set a $38.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, March 12th. BidaskClub cut shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Zacks Investment Research cut shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Finally, CIBC began coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, March 20th. They set an “outperform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $23.59.

In other news, insider Barbara White acquired 4,638 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $6.47 per share, with a total value of $30,007.86. Following the purchase, the insider now owns 184,159 shares of the company’s stock, valued at approximately $1,191,508.73. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 8,668 shares of company stock valued at $56,923 in the last ninety days. Company insiders own 8.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CRBP. Barclays PLC boosted its stake in Corbus Pharmaceuticals by 5,967.8% in the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 8,892 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Corbus Pharmaceuticals by 72,906.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 11,665 shares during the period. Prospera Financial Services Inc acquired a new position in Corbus Pharmaceuticals in the 1st quarter worth approximately $97,000. Cetera Advisor Networks LLC acquired a new position in Corbus Pharmaceuticals in the 1st quarter worth approximately $98,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Corbus Pharmaceuticals by 357.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 13,265 shares during the period. 40.29% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CRBP traded down $0.41 during trading hours on Monday, reaching $7.10. 935,400 shares of the company’s stock were exchanged, compared to its average volume of 1,519,250. The stock has a market capitalization of $463.47 million, a price-to-earnings ratio of -7.24 and a beta of 2.12. Corbus Pharmaceuticals has a 12 month low of $4.50 and a 12 month high of $9.11.

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 drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

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