Corium International, Inc. (CORI) Expected to Announce Earnings of -$0.46 Per Share
Equities research analysts forecast that Corium International, Inc. (NASDAQ:CORI) will announce ($0.46) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Corium International’s earnings. The lowest EPS estimate is ($0.49) and the highest is ($0.43). Corium International reported earnings of ($0.42) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 9.5%. The company is expected to report its next quarterly 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 financial year, with EPS estimates ranging from ($1.81) to ($1.67). For the next year, analysts expect that the firm will report earnings of ($1.39) per share, with EPS estimates ranging from ($1.56) to ($1.20). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Corium International.
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 Thomson Reuters’ 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 return on equity of 673.17% and a negative net margin of 145.60%.
CORI has been the subject of a number of recent analyst reports. WBB Securities raised shares of Corium International to a “buy” rating and set a $13.00 price target for the company in a report on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Corium International in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Corium International from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of Corium International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, ValuEngine downgraded shares of Corium International from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Corium International has an average rating of “Buy” and a consensus price target of $13.00.
In related news, major shareholder Healthcare Master Fun Broadfin sold 218,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $11.01, for a total transaction of $2,401,281.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Timothy D. Sweemer sold 12,012 shares of the firm’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. Over the last three months, insiders sold 308,015 shares of company stock worth $3,088,298. 46.50% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Royce & Associates LP boosted its holdings in shares of Corium International by 208.4% during the first 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 period. Stonepine Capital Management LLC acquired a new stake in shares of Corium International during the second quarter worth approximately $3,085,000. State Street Corp acquired a new stake in shares of Corium International during the second quarter worth approximately $1,840,000. EAM Investors LLC acquired a new stake in shares of Corium International during the second quarter worth approximately $563,000. Finally, Bank of New York Mellon Corp lifted its stake in Corium International by 161.8% in the second quarter. Bank of New York Mellon Corp now owns 66,160 shares of the biopharmaceutical company’s stock valued at $494,000 after acquiring an additional 40,891 shares during the last quarter. Institutional investors and hedge funds own 90.14% of the company’s stock.
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Corium International (CORI) traded up 1.37% during midday trading on Monday, hitting $10.36. 27,169 shares of the stock traded hands. The company’s 50-day moving average is $10.24 and its 200-day moving average is $7.75. Corium International has a one year low of $2.67 and a one year high of $11.37. The company’s market cap is $370.29 million.
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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