Corbus Pharmaceuticals (NASDAQ:CRBP) Posts Earnings Results, Misses Estimates By $0.54 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.54), FiscalAI reports.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock traded up $0.09 during mid-day trading on Tuesday, reaching $3.60. 185,818 shares of the company traded hands, compared to its average volume of 546,526. The company has a market capitalization of $67.31 million, a price-to-earnings ratio of -0.58 and a beta of 2.80. The firm’s fifty day moving average is $6.28 and its two-hundred day moving average is $8.45. Corbus Pharmaceuticals has a fifty-two week low of $2.81 and a fifty-two week high of $12.88.

Insider Activity at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp sold 425,000 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $4.10, for a total value of $1,742,500.00. Following the completion of the transaction, the insider owned 1,919,971 shares in the company, valued at approximately $7,871,881.10. This represents a 18.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CRBP shares. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, September 14th. Oppenheimer reduced their price target on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Thursday, October 15th. Wall Street Zen downgraded Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Mizuho set a $33.00 target price on shares of Corbus Pharmaceuticals in a research report on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.57.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research is centered on therapies designed to modulate immune-cell activity and target biological pathways involved in cancer and inflammatory disease.

Corbus’ oncology pipeline has included soquelitinib, formerly known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK) being evaluated for its potential to treat T-cell lymphomas and other cancers.