$8.47 Million in Sales Expected for Corium International, Inc. (CORI) This Quarter
Analysts forecast that Corium International, Inc. (NASDAQ:CORI) will announce sales of $8.47 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Corium International’s earnings, with the lowest sales estimate coming in at $8.23 million and the highest estimate coming in at $8.71 million. Corium International reported sales of $10.61 million during the same quarter last year, which indicates a negative year-over-year growth rate of 20.2%. The business is expected to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Corium International will report full year sales of $8.47 million for the current fiscal year, with estimates ranging from $30.01 million to $31.47 million. For the next year, analysts anticipate that the firm will post sales of $44.97 million per share, with estimates ranging from $38.19 million to $51.74 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Corium International.
Corium International (NASDAQ:CORI) last issued its earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.05. Corium International had a negative return on equity of 1,550.00% and a negative net margin of 116.59%. The company had revenue of $7.35 million for the quarter, compared to the consensus estimate of $6.05 million.
CORI has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Corium International in a research note on Friday, April 14th. FBR & Co reissued an “outperform” rating and issued a $13.00 price target (up previously from $12.00) on shares of Corium International in a research note on Tuesday, April 18th. Jefferies Group LLC set a $8.00 price target on shares of Corium International and gave the company a “buy” rating in a research note on Thursday, April 20th. Zacks Investment Research raised shares of Corium International from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research note on Friday, April 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $12.00 price target (up previously from $10.00) on shares of Corium International in a research note on Friday, May 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Corium International currently has a consensus rating of “Buy” and a consensus target price of $11.50.
Corium International (NASDAQ:CORI) opened at 8.87 on Friday. Corium International has a 12 month low of $2.67 and a 12 month high of $9.57. The company’s 50 day moving average is $7.89 and its 200-day moving average is $5.19. The company’s market cap is $259.29 million.
In other Corium International news, major shareholder Perceptive Advisors Llc bought 1,902,400 shares of the stock in a transaction on Thursday, May 25th. The shares were bought at an average price of $6.25 per share, with a total value of $11,890,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive bought 301,004 shares of the stock in a transaction on Friday, June 30th. The shares were acquired at an average cost of $7.71 per share, for a total transaction of $2,320,740.84. The disclosure for this purchase can be found here. Insiders own 46.50% of the company’s stock.
A number of large investors have recently made changes to their positions in CORI. Broadfin Capital LLC boosted its stake in shares of Corium International by 45.2% in the first quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock valued at $11,650,000 after buying an additional 867,400 shares during the period. AWM Investment Company Inc. boosted its stake in shares of Corium International by 1,125.9% in the first quarter. AWM Investment Company Inc. now owns 2,451,700 shares of the biopharmaceutical company’s stock valued at $10,248,000 after buying an additional 2,251,700 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of Corium International during the first quarter valued at about $11,096,000. Royce & Associates LP boosted its stake in shares of 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, Bank of New York Mellon Corp boosted its stake in shares of 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. 77.47% of the stock is currently owned by institutional investors.
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About Corium International
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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