Zacks Investment Research Downgrades Corium International, Inc. (CORI) to Sell
Corium International, Inc. (NASDAQ:CORI) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald restated a “buy” rating and set a $12.00 target price on shares of Corium International in a research report on Wednesday, September 27th. HC Wainwright started coverage on Corium International in a research report on Tuesday, September 26th. They set a “buy” rating and a $15.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Corium International in a research 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 restated a “buy” rating and set a $8.00 target price on shares of Corium International in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $13.00.
Corium International (NASDAQ:CORI) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.13). Corium International had a negative return on equity of 673.17% and a negative net margin of 145.60%. The business had revenue of $8.11 million for the quarter, compared to analysts’ expectations of $8.71 million. On average, equities research analysts forecast that Corium International will post ($1.70) EPS for the current fiscal year.
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In other Corium International news, major shareholder Healthcare Master Fun Broadfin sold 218,100 shares of Corium International stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $11.01, for a total transaction of $2,401,281.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Timothy D. Sweemer sold 15,488 shares of Corium International stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $7.82, for a total value of $121,116.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 310,053 shares of company stock valued at $3,106,539. Corporate insiders own 45.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Broadfin Capital LLC lifted its stake in shares of Corium International by 45.2% in the 1st quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock valued at $11,650,000 after acquiring an additional 867,400 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Corium International in the 1st quarter valued at about $11,096,000. Royce & Associates LP lifted its stake in shares of Corium International by 208.4% in the 1st quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock valued at $2,293,000 after acquiring an additional 370,600 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Corium International in the 2nd quarter valued at about $3,085,000. Finally, State Street Corp bought a new stake in shares of Corium International in the 2nd quarter valued at about $1,840,000. 90.14% of the stock is 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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