Corbus Pharmaceuticals (NASDAQ:CRBP) Releases Earnings Results, Beats Expectations By $0.01 EPS

Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, MarketWatch Earnings reports. Corbus Pharmaceuticals had a negative return on equity of 57.92% and a negative net margin of 2,856.56%.

Shares of CRBP traded down $0.01 during mid-day trading on Wednesday, reaching $0.25. 3,241 shares of the company’s stock traded hands, compared to its average volume of 1,094,259. The business’s 50-day moving average price is $0.40 and its 200-day moving average price is $0.57. The stock has a market capitalization of $31.32 million, a P/E ratio of -0.68 and a beta of 2.03. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.89 and a current ratio of 5.89. Corbus Pharmaceuticals has a 12 month low of $0.25 and a 12 month high of $2.29.

CRBP has been the topic of several research reports. Zacks Investment Research lowered Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com assumed coverage on Corbus Pharmaceuticals in a research note on Sunday. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1.83.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Corbus Pharmaceuticals by 211.1% during the fourth quarter. JPMorgan Chase & Co. now owns 107,590 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 73,008 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter valued at $107,000. LPL Financial LLC boosted its stake in shares of Corbus Pharmaceuticals by 61.6% during the 3rd quarter. LPL Financial LLC now owns 124,412 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 47,408 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 4th quarter valued at $151,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Corbus Pharmaceuticals by 154.8% in the 3rd quarter. Goldman Sachs Group Inc. now owns 156,720 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 95,206 shares during the last quarter. 35.61% of the stock is currently owned by institutional investors.

About Corbus Pharmaceuticals (Get Rating)

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases.

See Also

Earnings History for Corbus Pharmaceuticals (NASDAQ:CRBP)

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