Corium International Inc (CORI) Downgraded to Sell at Zacks Investment Research
Corium International Inc (NASDAQ:CORI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Corium International, Inc. is a commercial-stage biopharmaceutical company. It is focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage advanced technologies in transdermal and transmucosal delivery systems. Corium has developed six marketed products in the prescription drug and consumer markets: Clonidine Transdermal Delivery System for hypertension, Fentanyl TDS for chronic pain and four Crest Advanced Seal Whitestrips products. The company has two proprietary transdermal technology platforms with applications in multiple drug categories and indications: Corplex(TM) and MicroCor(R). Corium International, Inc. is headquartered in Menlo Park, California. “
CORI has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Corium International in a report on Monday, September 26th. FBR & Co set a $18.00 price target on Corium International and gave the company a “buy” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Corium International currently has an average rating of “Buy” and a consensus price target of $11.92.
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Shares of Corium International (NASDAQ:CORI) traded down 5.79% during midday trading on Tuesday, reaching $5.53. The company’s stock had a trading volume of 13,028 shares. The company’s market capitalization is $123.65 million. The stock’s 50-day moving average is $5.78 and its 200-day moving average is $4.58. Corium International has a one year low of $3.14 and a one year high of $9.93.
Corium International (NASDAQ:CORI) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. Corium International had a negative return on equity of 158.38% and a negative net margin of 104.77%. On average, equities analysts expect that Corium International will post ($1.62) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CORI. Opaleye Management Inc. raised its position in shares of Corium International by 1.4% in the first quarter. Opaleye Management Inc. now owns 360,000 shares of the biopharmaceutical company’s stock valued at $1,390,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Corium International by 1.6% in the first quarter. Geode Capital Management LLC now owns 76,871 shares of the biopharmaceutical company’s stock valued at $296,000 after buying an additional 1,187 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Corium International by 1.4% in the first quarter. Franklin Resources Inc. now owns 818,290 shares of the biopharmaceutical company’s stock valued at $3,158,000 after buying an additional 11,200 shares during the last quarter. State Street Corp raised its position in shares of Corium International by 82.4% in the first quarter. State Street Corp now owns 132,615 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 59,905 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Corium International during the second quarter valued at $152,000. Institutional investors own 88.15% of the company’s stock.
About Corium International
Corium International, Inc is a biopharmaceutical company. The Company is engaged in the development, manufacture and commercialization of specialty pharmaceutical products that focuses on transdermal and transmucosal delivery systems. Its development platforms enable transdermal delivery of large molecules, or biologics, including vaccines, peptides and proteins, as well as small molecules.
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