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

Corbus Pharmaceuticals (NASDAQ:CRBP) issued its quarterly earnings data 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 Trading Up 3.4%

CRBP traded up $0.12 on Tuesday, reaching $3.64. The stock had a trading volume of 158,208 shares, compared to its average volume of 546,361. The company has a market capitalization of $67.96 million, a price-to-earnings ratio of -0.59 and a beta of 2.80. Corbus Pharmaceuticals has a fifty-two week low of $2.81 and a fifty-two week high of $12.88. The firm has a 50-day moving average of $6.28 and a 200-day moving average of $8.45.

Insider Transactions at Corbus Pharmaceuticals

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRBP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Thursday, October 15th. Wall Street Zen cut shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Oppenheimer decreased their price objective on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 14th. Finally, Mizuho set a $33.00 target price on shares of Corbus Pharmaceuticals in a research note on Thursday, August 13th. Seven equities research 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.57.

About Corbus Pharmaceuticals

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.