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

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

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP traded down $0.08 during midday trading on Tuesday, hitting $6.72. 42,336 shares of the stock were exchanged, compared to its average volume of 241,255. The company has a market capitalization of $81.78 million, a PE ratio of -1.43 and a beta of 2.63. Corbus Pharmaceuticals has a 52-week low of $6.54 and a 52-week high of $61.90. The business’s fifty day simple moving average is $9.87 and its two-hundred day simple moving average is $19.90.

Analyst Upgrades and Downgrades

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

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.