Corium International, Inc. (CORI) Upgraded by Zacks Investment Research to “Buy”
Corium International, Inc. (NASDAQ:CORI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $12.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.89% from the stock’s previous close.
According to Zacks, “Corium International, Inc. is a commercial-stage biopharmaceutical company. It is focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage advanced technologies in transdermal and transmucosal delivery systems. Corium has developed six marketed products in the prescription drug and consumer markets: Clonidine Transdermal Delivery System for hypertension, Fentanyl TDS for chronic pain and four Crest Advanced Seal Whitestrips products. The company has two proprietary transdermal technology platforms with applications in multiple drug categories and indications: Corplex(TM) and MicroCor(R). Corium International, Inc. is headquartered in Menlo Park, California. “
Several other analysts have also recently commented on the company. Cantor Fitzgerald reissued a “buy” rating and issued a $12.00 price target on shares of Corium International in a report on Wednesday, September 27th. HC Wainwright started coverage on Corium International in a report on Tuesday, September 26th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Corium International in a report on Sunday, September 17th. BidaskClub cut Corium International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Corium International in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.00.
Shares of Corium International (NASDAQ CORI) traded down 0.63% during midday trading on Tuesday, reaching $11.02. 151,857 shares of the company traded hands. The stock’s 50-day moving average is $9.35 and its 200-day moving average is $7.19. Corium International has a 1-year low of $2.67 and a 1-year high of $11.37. The stock’s market capitalization is $393.88 million.
Corium International (NASDAQ:CORI) last released its 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). The business had revenue of $8.11 million for the quarter, compared to analyst estimates of $8.71 million. Corium International had a negative return on equity of 673.17% and a negative net margin of 145.60%. Equities analysts predict that Corium International will post ($1.70) EPS for the current fiscal year.
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In other Corium International news, insider Parminder Singh sold 32,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $7.61, for a total transaction of $243,520.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Timothy D. Sweemer sold 12,012 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $7.62, for a total value 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 over the last ninety days. 45.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CORI. California State Teachers Retirement System purchased a new position in shares of Corium International in the second quarter valued at $263,000. State Street Corp acquired a new position in shares of Corium International during the 2nd quarter worth $1,840,000. Stonepine Capital Management LLC acquired a new position in shares of Corium International during the 2nd quarter worth $3,085,000. EAM Investors LLC acquired a new position in shares of Corium International during the 2nd quarter worth $563,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Corium International during the 2nd quarter worth $158,000. 90.14% of the stock is currently owned by 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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