Zacks: Brokerages Anticipate Corbus Pharmaceuticals Holdings Inc (CRBP) Will Post Quarterly Sales of $1.59 Million
Equities research analysts expect Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) to report $1.59 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Corbus Pharmaceuticals’ earnings. The lowest sales estimate is $1.28 million and the highest is $1.90 million. Corbus Pharmaceuticals posted sales of $800,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 98.8%. The business is expected to announce its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Corbus Pharmaceuticals will report full year sales of $5.93 million for the current year, with estimates ranging from $5.60 million to $6.25 million. For the next fiscal year, analysts expect that the firm will post sales of $10.05 million, with estimates ranging from $7.60 million to $12.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. The business had revenue of $0.85 million during the quarter, compared to analysts’ expectations of $1.90 million.
Shares of NASDAQ CRBP traded up $0.15 during midday trading on Monday, hitting $7.20. The company’s stock had a trading volume of 1,732,600 shares, compared to its average volume of 809,229. Corbus Pharmaceuticals has a 12-month low of $4.50 and a 12-month high of $9.95. The company has a market cap of $380.42 million, a price-to-earnings ratio of -10.79 and a beta of 2.21.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Corbus Pharmaceuticals by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,954 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 9,050 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Corbus Pharmaceuticals by 13.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,573 shares of the biopharmaceutical company’s stock worth $554,000 after buying an additional 12,700 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Corbus Pharmaceuticals by 15.8% in the first quarter. Allianz Asset Management GmbH now owns 137,624 shares of the biopharmaceutical company’s stock worth $840,000 after buying an additional 18,778 shares during the period. Barclays PLC increased its holdings in Corbus Pharmaceuticals by 237.5% during the 1st quarter. Barclays PLC now owns 28,302 shares of the biopharmaceutical company’s stock worth $172,000 after purchasing an additional 19,917 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Corbus Pharmaceuticals during the 2nd quarter worth $144,000. Hedge funds and other institutional investors own 42.62% of the company’s stock.
Corbus Pharmaceuticals Company Profile
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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