What is Wedbush’s Estimate for CRBP FY2029 Earnings?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) – Stock analysts at Wedbush issued their FY2029 earnings estimates for Corbus Pharmaceuticals in a report issued on Tuesday, May 6th. Wedbush analyst R. Driscoll anticipates that the biopharmaceutical company will post earnings per share of ($4.49) for the year. Wedbush currently has a “Outperform” rating and a $51.00 target price on the stock. The consensus estimate for Corbus Pharmaceuticals’ current full-year earnings is ($4.23) per share.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.13).

A number of other equities research analysts have also recently commented on the company. William Blair initiated coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an “outperform” rating on the stock. Oppenheimer dropped their target price on shares of Corbus Pharmaceuticals from $60.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. HC Wainwright dropped their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, B. Riley reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.88.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $6.63 on Thursday. The company has a market capitalization of $81.10 million, a price-to-earnings ratio of -1.41 and a beta of 3.19. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $61.90. The company has a 50-day simple moving average of $6.33 and a two-hundred day simple moving average of $10.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Velan Capital Investment Management LP grew its holdings in shares of Corbus Pharmaceuticals by 13.4% during the fourth quarter. Velan Capital Investment Management LP now owns 56,700 shares of the biopharmaceutical company’s stock valued at $669,000 after buying an additional 6,700 shares during the last quarter. Two Sigma Advisers LP bought a new position in Corbus Pharmaceuticals in the 4th quarter valued at approximately $130,000. Two Sigma Investments LP boosted its stake in Corbus Pharmaceuticals by 212.3% during the 4th quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company’s stock valued at $1,583,000 after purchasing an additional 91,205 shares during the last quarter. Prosight Management LP increased its holdings in shares of Corbus Pharmaceuticals by 107.7% in the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after purchasing an additional 140,000 shares in the last quarter. Finally, Orbimed Advisors LLC raised its stake in shares of Corbus Pharmaceuticals by 28.5% in the fourth quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock worth $13,833,000 after purchasing an additional 259,735 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors.

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.