Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Expected to Post Q1 2023 Earnings of ($2.82) Per Share

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Rating) – Research analysts at HC Wainwright issued their Q1 2023 earnings estimates for shares of Corbus Pharmaceuticals in a research note issued to investors on Wednesday, March 8th. HC Wainwright analyst A. Fein expects that the biopharmaceutical company will earn ($2.82) per share for the quarter. HC Wainwright has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for Corbus Pharmaceuticals’ current full-year earnings is ($6.54) per share. HC Wainwright also issued estimates for Corbus Pharmaceuticals’ Q2 2023 earnings at ($3.07) EPS, Q3 2023 earnings at ($3.34) EPS, Q4 2023 earnings at ($3.64) EPS, FY2023 earnings at ($12.89) EPS, FY2024 earnings at ($13.11) EPS, FY2025 earnings at ($5.56) EPS, FY2026 earnings at ($5.93) EPS and FY2027 earnings at ($5.17) EPS.

Separately, StockNews.com began coverage on shares of Corbus Pharmaceuticals in a research report on Monday, February 20th. They issued a “sell” rating for the company.

Corbus Pharmaceuticals Stock Down 9.3 %

CRBP stock opened at $2.14 on Friday. The company has a fifty day moving average price of $1.17 and a 200 day moving average price of $0.50. Corbus Pharmaceuticals has a 12 month low of $2.11 and a 12 month high of $18.72. The company has a market cap of $8.92 million, a price-to-earnings ratio of -0.21 and a beta of 2.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.76 and a quick ratio of 3.86.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Corbus Pharmaceuticals by 10.7% in the 1st quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 38,304 shares in the last quarter. Vident Investment Advisory LLC lifted its holdings in shares of Corbus Pharmaceuticals by 66.2% during the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 101,659 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter worth approximately $60,000. Two Sigma Investments LP increased its position in Corbus Pharmaceuticals by 366.7% during the 4th quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 448,002 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Corbus Pharmaceuticals by 40.6% in the second quarter. Renaissance Technologies LLC now owns 1,626,860 shares of the biopharmaceutical company’s stock valued at $410,000 after acquiring an additional 469,669 shares in the last quarter. 18.65% of the stock is owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

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Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, which focuses on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its products include candidate, Lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.