$1.99 Million in Sales Expected for Corbus Pharmaceuticals Holdings Inc (CRBP) This Quarter
Wall Street analysts forecast that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) will announce $1.99 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Corbus Pharmaceuticals’ earnings. The highest sales estimate is $3.17 million and the lowest is $1.09 million. The business is scheduled to issue its next quarterly earnings report on Monday, March 11th.
On average, analysts expect that Corbus Pharmaceuticals will report full-year sales of $5.10 million for the current fiscal year, with estimates ranging from $3.99 million to $6.25 million. For the next financial year, analysts anticipate that the company will report sales of $7.81 million, with estimates ranging from $3.99 million to $12.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Corbus Pharmaceuticals.
Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The business had revenue of $1.09 million for the quarter, compared to the consensus estimate of $1.66 million.
Institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its position in shares of Corbus Pharmaceuticals by 13.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,573 shares of the biopharmaceutical company’s stock valued at $554,000 after acquiring an additional 12,700 shares during the period. BlackRock Inc. lifted its stake in shares of Corbus Pharmaceuticals by 8.6% during the 2nd quarter. BlackRock Inc. now owns 3,963,643 shares of the biopharmaceutical company’s stock valued at $20,015,000 after buying an additional 315,064 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $842,000. Nexthera Capital LP purchased a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $678,000. Finally, Millennium Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $772,000. 43.87% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CRBP opened at $8.14 on Friday. Corbus Pharmaceuticals has a 52-week low of $4.50 and a 52-week high of $9.95. The company has a market capitalization of $440.73 million, a price-to-earnings ratio of -12.52 and a beta of 2.11.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.
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