Corbus Pharmaceuticals (CRBP) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS
Corbus Pharmaceuticals (NASDAQ:CRBP) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05), MarketWatch Earnings reports. The company had revenue of $1.09 million for the quarter, compared to analyst estimates of $1.66 million.
NASDAQ:CRBP traded down $0.26 on Friday, hitting $6.61. The company had a trading volume of 942,460 shares, compared to its average volume of 1,131,068. The company has a market cap of $435.91 million, a price-to-earnings ratio of -10.17 and a beta of 2.16. Corbus Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $9.95.
Several brokerages recently commented on CRBP. ValuEngine raised shares of Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. BidaskClub downgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 18th. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, October 22nd. Finally, B. Riley began coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 24th. They issued a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $27.33.
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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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