Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Expected to Post Quarterly Sales of $830,000.00

Brokerages forecast that Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) will report sales of $830,000.00 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Corbus Pharmaceuticals’ earnings, with the highest sales estimate coming in at $1.00 million and the lowest estimate coming in at $660,000.00. Corbus Pharmaceuticals reported sales of $290,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 186.2%. The company is expected to announce its next earnings results on Thursday, August 5th.

On average, analysts expect that Corbus Pharmaceuticals will report full year sales of $3.34 million for the current fiscal year, with estimates ranging from $2.63 million to $3.79 million. For the next year, analysts expect that the business will post sales of $18.00 million, with estimates ranging from $11.00 million to $25.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Corbus Pharmaceuticals.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Thursday, May 13th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. Corbus Pharmaceuticals had a negative return on equity of 182.21% and a negative net margin of 3,460.04%. The company had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.95 million.

A number of analysts have recently issued reports on the company. Oppenheimer reaffirmed a “hold” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 16th. Zacks Investment Research lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $9.14.

Shares of CRBP opened at $2.18 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.52 and a current ratio of 5.52. The firm has a 50 day simple moving average of $1.81. The firm has a market capitalization of $272.57 million, a price-to-earnings ratio of -1.83 and a beta of 1.79. Corbus Pharmaceuticals has a 12 month low of $0.91 and a 12 month high of $9.78.

Large investors have recently made changes to their positions in the business. Reynders McVeigh Capital Management LLC acquired a new stake in Corbus Pharmaceuticals during the 4th quarter valued at $25,000. Jefferies Group LLC acquired a new stake in Corbus Pharmaceuticals during the 4th quarter valued at $25,000. Vontobel Holding Ltd. acquired a new stake in Corbus Pharmaceuticals during the 4th quarter valued at $26,000. Intersect Capital LLC acquired a new stake in Corbus Pharmaceuticals during the 1st quarter valued at $29,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Corbus Pharmaceuticals during the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 35.24% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of novel therapeutics that target the endocannabinoid system in the fields of autoimmunity, fibrosis, and cancer. Its lead product candidate is lenabasum, a cannabinoid receptor type 2 (CB2) that is in Phase III clinical trial for the treatment of dermatomyositis; and in Phase II clinical trial to treat systemic lupus erythematosus.

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Earnings History and Estimates for Corbus Pharmaceuticals (NASDAQ:CRBP)

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