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

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

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP traded down $0.03 during trading hours on Tuesday, reaching $6.77. 32,961 shares of the stock were exchanged, compared to its average volume of 241,246. The firm has a market capitalization of $82.39 million, a price-to-earnings ratio of -1.43 and a beta of 2.63. The stock’s fifty day simple moving average is $9.87 and its 200 day simple moving average is $19.90. Corbus Pharmaceuticals has a 52 week low of $6.54 and a 52 week high of $61.90.

Analyst Upgrades and Downgrades

CRBP has been the subject of a number of recent research reports. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. William Blair began coverage on shares of Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Finally, Piper Sandler started coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.57.

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.