Brokerages forecast that Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) will post sales of $830,000.00 for the current quarter, Zacks reports. Three analysts have provided estimates for Corbus Pharmaceuticals’ earnings. The highest sales estimate is $1.00 million and the lowest is $660,000.00. Corbus Pharmaceuticals posted sales of $290,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 186.2%. The firm is scheduled to issue its next earnings report on Thursday, August 5th.
On average, analysts expect that Corbus Pharmaceuticals will report full-year sales of $3.34 million for the current financial year, with estimates ranging from $2.63 million to $3.79 million. For the next fiscal year, analysts anticipate that the company will post sales of $18.00 million, with estimates ranging from $11.00 million to $25.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Wednesday, May 12th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Corbus Pharmaceuticals had a negative return on equity of 182.21% and a negative net margin of 3,460.04%.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 18th. Oppenheimer reiterated a “hold” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, March 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Corbus Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $14.22.
A number of large investors have recently added to or reduced their stakes in CRBP. Reynders McVeigh Capital Management LLC acquired a new position in Corbus Pharmaceuticals during the 4th quarter valued at approximately $25,000. Jefferies Group LLC acquired a new position in Corbus Pharmaceuticals during the 4th quarter valued at approximately $25,000. Vontobel Holding Ltd. acquired a new position in Corbus Pharmaceuticals during the 4th quarter valued at approximately $26,000. Intersect Capital LLC acquired a new position in Corbus Pharmaceuticals during the 1st quarter valued at approximately $29,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Corbus Pharmaceuticals during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 31.42% of the company’s stock.
CRBP stock opened at $1.77 on Friday. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.20. Corbus Pharmaceuticals has a 52-week low of $0.91 and a 52-week high of $9.78. The stock’s 50 day moving average is $1.75 and its two-hundred day moving average is $1.80. The company has a market capitalization of $221.30 million, a PE ratio of -1.49 and a beta of 1.82.
Corbus Pharmaceuticals Company Profile
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of novel therapeutics that target the endocannabinoid system in the fields of autoimmunity, fibrosis, and cancer. Its lead product candidate is lenabasum, a cannabinoid receptor type 2 (CB2) that is in Phase III clinical trial for the treatment of dermatomyositis; and in Phase II clinical trial to treat systemic lupus erythematosus.
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