Corbus Pharmaceuticals (NASDAQ:CRBP) Releases Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Corbus Pharmaceuticals reported a quarterly EPS of ($1.44), missing the consensus estimate of ($1.35) by ($0.09).
• The company's stock experienced a year-to-date surge of 342%, with current shares trading at $8.80.
• Analysts have mixed views, with one sell rating, eight buy ratings, and two strong buy ratings, resulting in an average target price of $49.38.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) issued its earnings results on Tuesday. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.55) by $0.11, Zacks reports.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock traded down $0.57 during trading hours on Friday, hitting $8.43. The company had a trading volume of 86,797 shares, compared to its average volume of 116,367. The firm has a market cap of $103.35 million, a PE ratio of -1.77 and a beta of 3.20. Corbus Pharmaceuticals has a one year low of $4.64 and a one year high of $61.89. The firm has a 50-day moving average of $8.48 and a 200 day moving average of $7.71.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Corbus Pharmaceuticals stock. AQR Capital Management LLC bought a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 107,983 shares of the biopharmaceutical company's stock, valued at approximately $573,000. AQR Capital Management LLC owned 0.88% of Corbus Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 64.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. B. Riley upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 target price for the company in a research note on Wednesday, July 30th. Royal Bank Of Canada cut their target price on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Oppenheimer cut their target price on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research note on Saturday, July 12th. Finally, HC Wainwright cut their target price on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Corbus Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.