Corbus Pharmaceuticals (NASDAQ:CRBP) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its earnings results on Thursday. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.04, Fidelity Earnings reports. Corbus Pharmaceuticals had a negative return on equity of 139.91% and a negative net margin of 164.68%. The firm had revenue of $2.59 million during the quarter, compared to analysts’ expectations of $1.73 million.

NASDAQ CRBP traded up $0.08 during trading on Friday, reaching $4.59. 1,208,800 shares of the company’s stock were exchanged, compared to its average volume of 1,013,153. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.56 and a current ratio of 2.56. The company has a 50 day moving average price of $5.02 and a two-hundred day moving average price of $6.11. Corbus Pharmaceuticals has a 1 year low of $4.19 and a 1 year high of $9.11. The stock has a market cap of $329.72 million, a P/E ratio of -4.68 and a beta of 1.87.

In other Corbus Pharmaceuticals news, COO Robert Paul Discordia bought 15,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $5.86 per share, for a total transaction of $87,900.00. Following the transaction, the chief operating officer now owns 30,150 shares of the company’s stock, valued at approximately $176,679. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 19,175 shares of company stock worth $112,241 in the last quarter. 8.20% of the stock is currently owned by insiders.

Several research analysts recently commented on CRBP shares. ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reissued a “buy” rating and set a $23.00 target price on shares of Corbus Pharmaceuticals in a research note on Sunday, August 11th. Zacks Investment Research cut Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BidaskClub raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.71.

About Corbus Pharmaceuticals

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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Earnings History for Corbus Pharmaceuticals (NASDAQ:CRBP)

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