Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) - Investment analysts at Cantor Fitzgerald raised their FY2017 earnings estimates for Corbus Pharmaceuticals Holdings in a research report issued on Wednesday. Cantor Fitzgerald analyst E. Piros now expects that the biopharmaceutical company will earn ($0.60) per share for the year, up from their prior forecast of ($0.67). Cantor Fitzgerald currently has a “Buy” rating and a $24.00 target price on the stock. Cantor Fitzgerald also issued estimates for Corbus Pharmaceuticals Holdings’ FY2018 earnings at ($0.65) EPS.
A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded Corbus Pharmaceuticals Holdings from a “strong sell” rating to a “sell” rating in a research note on Friday. Noble Financial reiterated a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $20.50.
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Shares of Corbus Pharmaceuticals Holdings (CRBP) opened at 6.85 on Monday. Corbus Pharmaceuticals Holdings has a 12 month low of $3.73 and a 12 month high of $10.78. The firm’s market capitalization is $344.01 million. The firm’s 50-day moving average price is $6.24 and its 200-day moving average price is $7.04.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.04. Corbus Pharmaceuticals Holdings had a negative return on equity of 107.10% and a negative net margin of 1,001.77%. The firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.50 million.
A number of institutional investors have recently added to or reduced their stakes in CRBP. Dynamic Technology Lab Private Ltd bought a new position in Corbus Pharmaceuticals Holdings during the second quarter worth about $198,000. California State Teachers Retirement System acquired a new position in shares of Corbus Pharmaceuticals Holdings during the second quarter worth $495,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Corbus Pharmaceuticals Holdings by 5.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 426,280 shares of the biopharmaceutical company’s stock worth $2,686,000 after buying an additional 22,394 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Corbus Pharmaceuticals Holdings during the second quarter worth $228,000. Finally, State Street Corp increased its position in shares of Corbus Pharmaceuticals Holdings by 2,998.2% in the second quarter. State Street Corp now owns 588,662 shares of the biopharmaceutical company’s stock worth $3,708,000 after buying an additional 569,662 shares during the last quarter. Institutional investors and hedge funds own 28.63% of the company’s stock.
About Corbus Pharmaceuticals Holdings
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
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