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

Corbus Pharmaceuticals (NASDAQ:CRBP) posted its quarterly earnings data 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 Price Performance

Shares of NASDAQ CRBP opened at $6.88 on Wednesday. The stock has a market cap of $83.79 million, a PE ratio of -1.47 and a beta of 2.63. Corbus Pharmaceuticals has a 1 year low of $6.54 and a 1 year high of $61.90. The firm has a fifty day moving average price of $9.77 and a 200-day moving average price of $19.53.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. William Blair began coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an “outperform” rating for the company. Jefferies Financial Group cut their target price on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday. Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price objective (down from $75.00) on shares of Corbus Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $59.13.

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.