Zacks: Brokerages Anticipate Corium International, Inc. (CORI) to Post -$0.46 Earnings Per Share
Wall Street analysts expect Corium International, Inc. (NASDAQ:CORI) to post ($0.46) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Corium International’s earnings, with the lowest EPS estimate coming in at ($0.49) and the highest estimate coming in at ($0.43). Corium International reported earnings per share of ($0.42) during the same quarter last year, which suggests a negative year over year growth rate of 9.5%. The firm is scheduled to report its next earnings report on Monday, November 20th.
According to Zacks, analysts expect that Corium International will report full-year earnings of ($1.74) per share for the current fiscal year, with EPS estimates ranging from ($1.81) to ($1.67). For the next financial year, analysts anticipate that the business will post earnings of ($1.39) per share, with EPS estimates ranging from ($1.56) to ($1.19). Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Corium International.
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 consensus estimate of ($0.30) by ($0.13). The company 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%.
CORI has been the subject of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $10.00 price target (up from $8.00) on shares of Corium International in a research report on Monday, August 7th. Zacks Investment Research raised Corium International from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday. ValuEngine raised Corium International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded Corium International from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $12.00 target price on shares of Corium International in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.00.
Shares of Corium International (NASDAQ:CORI) traded up 0.73% on Wednesday, hitting $11.10. The company had a trading volume of 405,588 shares. The firm’s market capitalization is $396.74 million. Corium International has a 1-year low of $2.67 and a 1-year high of $11.37. The company has a 50 day moving average price of $9.35 and a 200 day moving average price of $7.19.
In other news, CAO Timothy D. Sweemer sold 12,012 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $7.62, for a total value of $91,531.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parminder Singh sold 30,415 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $7.59, for a total transaction of $230,849.85. Following the completion of the transaction, the insider now directly owns 30,762 shares in the company, valued at approximately $233,483.58. The disclosure for this sale can be found here. Insiders sold a total of 91,953 shares of company stock worth $705,258 over the last 90 days. Corporate insiders own 45.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Corium International by 118.1% during the 1st quarter. Bank of New York Mellon Corp now owns 25,269 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 13,683 shares during the last quarter. New York State Common Retirement Fund purchased a new position in Corium International in the second quarter worth $158,000. California State Teachers Retirement System purchased a new position in Corium International in the second quarter worth $263,000. Teachers Advisors LLC purchased a new position in Corium International in the second quarter worth $272,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Corium International in the second quarter worth $411,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.
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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