Corium International Inc (CORI) Major Shareholder Purchases $11,890,000.00 in Stock
Corium International Inc (NASDAQ:CORI) major shareholder Perceptive Advisors Llc purchased 1,902,400 shares of Corium International stock in a transaction dated Thursday, May 25th. The stock was bought at an average price of $6.25 per share, for a total transaction of $11,890,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Corium International Inc (NASDAQ:CORI) traded down 7.060% during mid-day trading on Thursday, hitting $6.385. The company’s stock had a trading volume of 860,021 shares. The firm’s market cap is $186.65 million. The firm has a 50 day moving average of $5.02 and a 200-day moving average of $4.37. Corium International Inc has a 52-week low of $2.67 and a 52-week high of $8.33.
Corium International (NASDAQ:CORI) last announced its quarterly earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.05. Corium International had a negative net margin of 116.26% and a negative return on equity of 359.24%. The business had revenue of $7.35 million during the quarter, compared to the consensus estimate of $6.05 million. On average, equities research analysts expect that Corium International Inc will post ($1.69) EPS for the current fiscal year.
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CORI has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Corium International in a research report on Friday, April 14th. Jefferies Group LLC reduced their price target on Corium International from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. FBR & Co restated an “outperform” rating and issued a $13.00 price target (up from $12.00) on shares of Corium International in a research report on Tuesday, April 18th. Cantor Fitzgerald set a $10.00 price target on Corium International and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Finally, Zacks Investment Research upgraded Corium International from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Friday, April 21st. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $10.71.
A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Corium International by 118.1% in the first quarter. Bank of New York Mellon Corp now owns 25,269 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 13,683 shares during the period. Geode Capital Management LLC increased its position in Corium International by 0.6% in the first quarter. Geode Capital Management LLC now owns 69,552 shares of the biopharmaceutical company’s stock valued at $290,000 after buying an additional 444 shares during the period. Vanguard Group Inc. increased its position in Corium International by 44.1% in the first quarter. Vanguard Group Inc. now owns 500,965 shares of the biopharmaceutical company’s stock valued at $2,094,000 after buying an additional 153,358 shares during the period. Royce & Associates LP increased its position in Corium International by 208.4% in the first quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock valued at $2,293,000 after buying an additional 370,600 shares during the period. Finally, RTW Investments LLC increased its position in Corium International by 22.6% in the third quarter. RTW Investments LLC now owns 1,045,747 shares of the biopharmaceutical company’s stock valued at $5,888,000 after buying an additional 192,786 shares during the period. Hedge funds and other institutional investors own 67.75% of the company’s stock.
Corium International Company Profile
Corium International, Inc is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products. As of September 30, 2016, the Company had multiple programs in preclinical and clinical development focused primarily on the treatment of neurological disorders, with two lead programs in Alzheimer’s disease.
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