Corbus Pharmaceuticals (NASDAQ:CRBP) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) posted its earnings results on Tuesday. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.13), Zacks reports.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP traded down $0.79 during trading on Tuesday, hitting $6.63. 86,170 shares of the stock were exchanged, compared to its average volume of 362,755. The company’s fifty day simple moving average is $6.39 and its 200-day simple moving average is $11.07. The company has a market capitalization of $81.11 million, a price-to-earnings ratio of -1.41 and a beta of 3.19. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $61.90.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective (down previously from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. William Blair began coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group decreased their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.