Corbus Pharmaceuticals (NASDAQ:CRBP) Announces Earnings Results

Corbus Pharmaceuticals (NASDAQ:CRBP) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29, Yahoo Finance reports.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP traded down $5.23 during trading on Wednesday, reaching $47.71. The company’s stock had a trading volume of 249,407 shares, compared to its average volume of 544,288. The stock has a market capitalization of $510.02 million, a PE ratio of -6.96 and a beta of 2.59. The firm has a fifty day moving average of $50.60 and a 200 day moving average of $40.18. Corbus Pharmaceuticals has a one year low of $3.03 and a one year high of $61.90.

Insider Activity

In other news, CEO Yuval Cohen sold 11,103 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the transaction, the chief executive officer now directly owns 84,400 shares in the company, valued at approximately $3,884,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $49.87, for a total transaction of $466,533.85. Following the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at approximately $2,423,931.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Yuval Cohen sold 11,103 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $46.02, for a total value of $510,960.06. Following the transaction, the chief executive officer now owns 84,400 shares in the company, valued at $3,884,088. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,733 shares of company stock worth $2,530,799. 4.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on CRBP shares. Oppenheimer upped their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley initiated coverage on Corbus Pharmaceuticals in a report on Wednesday, June 26th. They set a “buy” rating and a $85.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

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.