Corium International, Inc. (CORI) Expected to Announce Quarterly Sales of $9.57 Million
Equities research analysts expect Corium International, Inc. (NASDAQ:CORI) to report sales of $9.57 million for the current quarter, Zacks reports. Two analysts have issued 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 posted sales of $7.92 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.8%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, November 20th.
According to Zacks, 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 year, analysts anticipate that the business will post 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 a mean average based on a survey of research firms that that provide coverage for Corium International.
CORI has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $8.00 price target on shares of Corium International in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Corium International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine downgraded shares of Corium International from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Corium International in a report on Sunday, September 17th. Finally, HC Wainwright assumed coverage on shares of Corium International in a report on Tuesday, September 26th. They set a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $13.00.
In related news, major shareholder Healthcare Master Fun Broadfin sold 218,100 shares of the company’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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parminder Singh sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $7.61, for a total transaction of $243,520.00. The disclosure for this sale can be found here. Insiders sold 458,015 shares of company stock worth $4,745,798 in the last ninety days. Insiders own 45.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Stonepine Capital Management LLC acquired a new position in Corium International during the second quarter worth approximately $3,085,000. State Street Corp acquired a new stake in shares of Corium International in the second quarter worth $1,840,000. Bank of New York Mellon Corp increased its position in shares of Corium International by 33.7% in the third quarter. Bank of New York Mellon Corp now owns 88,445 shares of the biopharmaceutical company’s stock worth $980,000 after acquiring an additional 22,285 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of Corium International in the second quarter worth $563,000. Finally, TIAA CREF Investment Management LLC acquired a new stake in shares of Corium International in the second quarter worth $411,000. 90.25% of the stock is owned by hedge funds and other institutional investors.
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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