Corbus Pharmaceuticals (NASDAQ:CRBP) Announces Earnings Results, Beats Estimates By $0.24 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.24, Zacks reports.

Corbus Pharmaceuticals Trading Up 0.4 %

Corbus Pharmaceuticals stock opened at $6.91 on Thursday. The business’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $19.44. Corbus Pharmaceuticals has a 12 month low of $6.54 and a 12 month high of $61.90. The company has a market cap of $84.16 million, a price-to-earnings ratio of -1.47 and a beta of 2.63.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. William Blair started coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an “outperform” rating on the stock. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target (down from $75.00) on shares of Corbus Pharmaceuticals in a research note on Wednesday. Jefferies Financial Group cut their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday. One equities 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.13.

About Corbus Pharmaceuticals

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.