Corium International, Inc. (NASDAQ:CORI) Downgraded by BidaskClub to Sell
Corium International, Inc. (NASDAQ:CORI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
A number of other research analysts have also recently commented on CORI. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Corium International in a research note on Friday, April 14th. FBR & Co restated an “outperform” rating and set 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 stock a “buy” rating in a research note on Thursday, April 20th. Zacks Investment Research upgraded shares of Corium International from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a research note on Friday, April 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target (up previously from $10.00) on shares of Corium International in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $11.79.
Corium International (NASDAQ:CORI) remained flat at $7.42 during trading on Friday. 70,903 shares of the company traded hands. Corium International has a 1-year low of $2.67 and a 1-year high of $9.57. The firm has a 50 day moving average price of $8.25 and a 200-day moving average price of $5.65. The company’s market capitalization is $265.18 million.
Corium International (NASDAQ:CORI) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.13. The business had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.71 million. Corium International had a negative return on equity of 1,550.00% and a negative net margin of 145.60%. Equities research analysts predict that Corium International will post ($1.69) EPS for the current fiscal year.
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In other news, major shareholder Perceptive Advisors Llc bought 1,902,400 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences Maste Perceptive bought 301,004 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was purchased at an average price of $7.71 per share, with a total value of $2,320,740.84. The disclosure for this purchase can be found here. Insiders own 46.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EAM Investors LLC purchased a new position in Corium International during the second quarter worth about $563,000. New York State Common Retirement Fund purchased a new position in Corium International during the second quarter worth about $158,000. TIAA CREF Investment Management LLC purchased a new position in Corium International during the second quarter worth about $411,000. Teachers Advisors LLC purchased a new position in Corium International during the second quarter worth about $272,000. Finally, Bank of New York Mellon Corp boosted its position in Corium International by 161.8% in the second quarter. Bank of New York Mellon Corp now owns 66,160 shares of the biopharmaceutical company’s stock worth $494,000 after buying an additional 40,891 shares during the period. Institutional investors own 77.81% 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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