Corium International’s (CORI) “Buy” Rating Reiterated at Jefferies Group LLC
Corium International, Inc. (NASDAQ:CORI)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a report issued on Monday. They currently have a $10.00 target price on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 28.04% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Corium International in a report on Friday, April 14th. FBR & Co reiterated an “outperform” rating and set a $13.00 price target (up previously from $12.00) on shares of Corium International in a report on Tuesday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price target (up previously from $10.00) on shares of Corium International in a report on Friday, May 12th. Zacks Investment Research downgraded Corium International from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Finally, WBB Securities upgraded Corium International to a “buy” rating and set a $13.00 price target for the company in a report on Friday, July 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.79.
Shares of Corium International (NASDAQ:CORI) opened at 7.81 on Monday. The firm’s market cap is $228.30 million. Corium International has a 12-month low of $2.67 and a 12-month high of $9.57. The stock has a 50 day moving average price of $8.17 and a 200 day moving average price of $5.48.
Corium International (NASDAQ:CORI) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.13. Corium International had a negative return on equity of 1,550.00% and a negative net margin of 145.60%. The company had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.71 million. On average, equities analysts expect that Corium International will post ($1.62) earnings per share for the current year.
In other news, major shareholder Perceptive Advisors Llc purchased 1,902,400 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were purchased at an average price of $6.25 per share, with a total value of $11,890,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive purchased 301,004 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were purchased 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. 45.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CORI. Bank of New York Mellon Corp boosted its position 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 worth $106,000 after buying an additional 13,683 shares in the last quarter. Royce & Associates LP boosted its position 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 worth $2,293,000 after buying an additional 370,600 shares in the last quarter. Broadfin Capital LLC boosted its position 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 worth $11,650,000 after buying an additional 867,400 shares in the last quarter. AWM Investment Company Inc. boosted its position 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 worth $10,248,000 after buying an additional 2,251,700 shares in the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of Corium International during the first quarter worth approximately $11,096,000. 77.81% of the stock is currently owned by hedge funds and other institutional investors.
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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