Corbus Pharmaceuticals (NASDAQ:CRBP) Releases Quarterly Earnings Results

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

Corbus Pharmaceuticals Trading Up 11.0 %

Shares of Corbus Pharmaceuticals stock traded up $5.30 on Thursday, hitting $53.60. 377,665 shares of the company traded hands, compared to its average volume of 544,277. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90. The company has a market cap of $572.82 million, a P/E ratio of -7.77 and a beta of 2.59. The firm’s 50-day simple moving average is $50.70 and its 200 day simple moving average is $40.24.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, CEO Yuval Cohen sold 11,103 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 11,103 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $46.02, for a total value of $510,960.06. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean F. Moran sold 9,355 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $49.87, for a total transaction of $466,533.85. Following the transaction, the chief financial officer now owns 48,605 shares in the company, valued at approximately $2,423,931.35. The disclosure for this sale can be found here. Insiders sold a total of 51,733 shares of company stock worth $2,530,799 over the last three months. Company insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRBP. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a report on Wednesday. StockNews.com raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. B. Riley started coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Wedbush started coverage on Corbus Pharmaceuticals in a report on Tuesday, July 30th. They set an “outperform” rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.