Corium International Inc. (CORI) Given Buy Rating at FBR & Co
FBR & Co reaffirmed their buy rating on shares of Corium International Inc. (NASDAQ:CORI) in a research note released on Tuesday morning. FBR & Co currently has a $18.00 price objective on the biopharmaceutical company’s stock.
“Corium reported below-consensus revenue and EPS after the market close on November 21. While EPS and revenues were disappointing in the quarter, we believe that investors should continue to focus on the company’s impressive CNS patch pipeline. Corium has received favorable written feedback from the FDA regarding its development of Corplex donepezil and Corplex memantine. The FDA has indicated that if Corium can demonstrate bioequivalence between its products and oral Aricept (donepezil) and oral Namenda XR (memantine) in bioequivalence (BE) studies, then it could submit a 505(b)(2) NDA without conducting additional clinical efficacy trials. We believe meaningful catalysts are ahead in 2017. Patient dosing started in September for a pilot study for Corplex donepezil in preparation for the pivotal BE trial in 2H17.”,” the firm’s analyst commented.
Several other equities analysts also recently commented on CORI. Zacks Investment Research downgraded shares of Corium International from a buy rating to a hold rating in a report on Wednesday, August 10th. Needham & Company LLC reissued a buy rating and issued a $15.00 target price on shares of Corium International in a report on Monday, September 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $12.25.
Shares of Corium International (NASDAQ:CORI) opened at 4.40 on Tuesday. Corium International has a one year low of $3.14 and a one year high of $9.93. The company’s market cap is $97.71 million. The firm has a 50-day moving average of $5.06 and a 200-day moving average of $4.71.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Opaleye Management Inc. boosted its position in Corium International by 1.4% in the first quarter. Opaleye Management Inc. now owns 360,000 shares of the biopharmaceutical company’s stock worth $1,390,000 after buying an additional 5,000 shares during the period. RTW Investments LLC boosted its position in Corium International by 3.0% in the second quarter. RTW Investments LLC now owns 852,961 shares of the biopharmaceutical company’s stock worth $2,960,000 after buying an additional 24,629 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Corium International during the second quarter worth $152,000. Institutional investors and hedge funds own 88.35% of the company’s stock.
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About Corium International Corium International, Inc is a biopharmaceutical company. The Company is engaged in the development, manufacture and commercialization of specialty pharmaceutical products that focuses on transdermal and transmucosal delivery systems. Its development platforms enable transdermal delivery of large molecules, or biologics, including vaccines, peptides and proteins, as well as small molecules.
About Corium International
Corium International, Inc is a biopharmaceutical company. The Company is engaged in the development, manufacture and commercialization of specialty pharmaceutical products that focuses on transdermal and transmucosal delivery systems. Its development platforms enable transdermal delivery of large molecules, or biologics, including vaccines, peptides and proteins, as well as small molecules.
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