Corbus Pharmaceuticals Holdings, Inc. Forecasted to Earn Q2 2024 Earnings of ($0.92) Per Share (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) – Investment analysts at B. Riley issued their Q2 2024 earnings per share (EPS) estimates for Corbus Pharmaceuticals in a research note issued on Tuesday, June 25th. B. Riley analyst K. Patel forecasts that the biopharmaceutical company will post earnings per share of ($0.92) for the quarter. B. Riley has a “Buy” rating and a $85.00 price target on the stock. The consensus estimate for Corbus Pharmaceuticals’ current full-year earnings is ($5.86) per share. B. Riley also issued estimates for Corbus Pharmaceuticals’ Q3 2024 earnings at ($0.92) EPS, Q4 2024 earnings at ($0.92) EPS, FY2024 earnings at ($3.61) EPS, FY2025 earnings at ($3.94) EPS, FY2026 earnings at ($3.50) EPS, FY2027 earnings at ($3.90) EPS and FY2028 earnings at ($4.49) EPS.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.26.

Several other equities analysts also recently commented on CRBP. Jefferies Financial Group raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.00 to $46.00 in a research report on Wednesday, March 6th. Oppenheimer upped their price target on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada upped their target price on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $73.25.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $43.88 on Friday. The firm has a market capitalization of $469.08 million, a PE ratio of -6.30 and a beta of 2.52. The business has a 50 day simple moving average of $42.93 and a two-hundred day simple moving average of $30.25. Corbus Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $55.41.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ikarian Capital LLC increased its position in shares of Corbus Pharmaceuticals by 185.5% during the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after purchasing an additional 363,372 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after buying an additional 257,808 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at about $13,363,000. Assenagon Asset Management S.A. acquired a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at about $10,181,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $7,554,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Sean F. Moran sold 1,958 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at approximately $2,047,242.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the completion of the transaction, the chief executive officer now owns 84,400 shares in the company, valued at approximately $4,234,348. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the sale, the chief financial officer now directly owns 48,605 shares in the company, valued at $2,047,242.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,733 shares of company stock worth $2,530,799. 4.00% of the stock is owned by corporate insiders.

Corbus Pharmaceuticals Company Profile

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.