Corium International, Inc. (CORI) Receives Buy Rating from Needham & Company LLC
Corium International, Inc. (NASDAQ:CORI)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Sunday. They currently have a $13.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 31.18% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. WBB Securities raised shares of Corium International to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, July 7th. Zacks Investment Research raised shares of Corium International from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Tuesday, June 6th. BidaskClub cut shares of Corium International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Corium International in a research report on Wednesday, July 19th. Finally, ValuEngine raised shares of Corium International from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with 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 $12.21.
Shares of Corium International (NASDAQ:CORI) opened at 9.91 on Friday. Corium International has a one year low of $2.67 and a one year high of $10.35. The firm has a 50-day moving average of $8.34 and a 200 day moving average of $6.53. The stock’s market capitalization is $354.20 million.
Corium International (NASDAQ:CORI) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.13). The company had revenue of $8.11 million during the quarter, compared to analysts’ expectations of $8.71 million. Corium International had a negative net margin of 145.60% and a negative return on equity of 673.17%. On average, equities research analysts predict that Corium International will post ($1.69) EPS for the current year.
In other Corium International news, major shareholder Life Sciences Maste Perceptive purchased 301,004 shares of the 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Timothy D. Sweemer sold 12,012 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $7.62, for a total transaction of $91,531.44. The disclosure for this sale can be found here. Insiders sold a total of 91,953 shares of company stock valued at $705,258 in the last ninety days. Corporate insiders own 46.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in shares of Corium International in the 2nd quarter worth approximately $263,000. State Street Corp purchased a new stake in shares of Corium International in the 2nd quarter worth approximately $1,840,000. Stonepine Capital Management LLC purchased a new stake in shares of Corium International in the 2nd quarter worth approximately $3,085,000. EAM Investors LLC purchased a new stake in shares of Corium International in the 2nd quarter worth approximately $563,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Corium International in the 2nd quarter worth approximately $158,000. 90.14% of the stock is owned by hedge funds and other institutional investors.
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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