$9.57 Million in Sales Expected for Corium International, Inc. (CORI) This Quarter
Analysts forecast that Corium International, Inc. (NASDAQ:CORI) will post sales of $9.57 million for the current quarter, according to Zacks. Two analysts have made estimates for Corium International’s earnings, with the highest sales estimate coming in at $10.51 million and the lowest estimate coming in at $8.63 million. Corium International reported sales of $7.92 million in the same quarter last year, which would suggest a positive year over year growth rate of 20.8%. The business is expected to announce its next quarterly earnings report on Monday, November 20th.
On average, analysts expect that Corium International will report full-year sales of $9.57 million for the current financial year, with estimates ranging from $31.06 million to $32.93 million. For the next financial year, analysts expect that the business will report sales of $35.74 million per share, with estimates ranging from $33.23 million to $38.25 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Corium International.
Corium International (NASDAQ:CORI) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.13). The firm had revenue of $8.11 million for 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%.
Several brokerages have weighed in on CORI. Zacks Investment Research cut Corium International from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Corium International in a report on Wednesday, July 19th. WBB Securities upgraded Corium International to a “buy” rating and set a $13.00 target price for the company in a report on Friday, July 7th. BidaskClub cut Corium International from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, ValuEngine cut Corium International from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.00.
In related news, insider Parminder Singh sold 32,000 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Timothy D. Sweemer sold 12,012 shares of the company’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 have sold a total of 91,953 shares of company stock valued at $705,258 over the last 90 days. 46.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Broadfin Capital LLC lifted its stake in shares of Corium International by 45.2% during the 1st quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock worth $11,650,000 after purchasing an additional 867,400 shares during the last quarter. AWM Investment Company Inc. lifted its stake in shares of Corium International by 1,125.9% during the 1st quarter. AWM Investment Company Inc. now owns 2,451,700 shares of the biopharmaceutical company’s stock worth $10,248,000 after purchasing an additional 2,251,700 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Corium International during the 1st quarter worth $11,096,000. Royce & Associates LP lifted its stake in shares of Corium International by 208.4% during the 1st quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock worth $2,293,000 after purchasing an additional 370,600 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 13,683 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.
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Corium International (NASDAQ CORI) opened at 11.04 on Friday. The stock’s market cap is $394.59 million. The firm’s 50-day moving average price is $9.54 and its 200 day moving average price is $7.24. Corium International has a 12 month low of $2.67 and a 12 month high of $11.37.
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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