Corbus Pharmaceuticals (NASDAQ:CRBP) Issues Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.13), Zacks reports.

Corbus Pharmaceuticals Stock Down 3.0 %

NASDAQ:CRBP traded down $0.20 during mid-day trading on Friday, hitting $6.45. 126,311 shares of the stock traded hands, compared to its average volume of 360,382. The stock has a market capitalization of $78.90 million, a price-to-earnings ratio of -1.38 and a beta of 3.19. Corbus Pharmaceuticals has a 52 week low of $4.64 and a 52 week high of $61.90. The firm's 50 day moving average is $6.33 and its two-hundred day moving average is $10.81.

Analysts Set New Price Targets

CRBP has been the subject of a number of recent research reports. Royal Bank of Canada dropped their price objective 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. B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a report on Wednesday. William Blair assumed coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an "outperform" rating for the company. StockNews.com upgraded shares of Corbus Pharmaceuticals to a "sell" rating in a report on Thursday, March 6th. Finally, HC Wainwright cut their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.88.

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.