Zacks Investment Research Lowers Corium International Inc. (CORI) to Sell
Corium International Inc. (NASDAQ:CORI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
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. “
CORI has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Corium International in a report on Monday, September 26th. Leerink Swann set a $16.00 price objective on Corium International and gave the stock a “buy” rating in a report on Tuesday. Finally, FBR & Co restated a “buy” rating and set a $18.00 price objective on shares of Corium International in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.25.
Shares of Corium International (NASDAQ:CORI) traded up 17.23% on Friday, reaching $5.51. 55,021 shares of the company’s stock were exchanged. Corium International has a 12 month low of $3.14 and a 12 month high of $9.93. The firm’s 50 day moving average price is $5.02 and its 200-day moving average price is $4.72. The company’s market capitalization is $122.36 million.
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A number of hedge funds have recently bought and sold shares of the company. Opaleye Management Inc. increased its stake in Corium International by 1.4% in the first quarter. Opaleye Management Inc. now owns 360,000 shares of the biopharmaceutical company’s stock valued at $1,390,000 after buying an additional 5,000 shares during the last quarter. RTW Investments LLC increased its position in shares of 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 in the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Corium International during the second quarter worth $152,000. Hedge funds and other institutional investors own 88.35% of the company’s stock.
Corium International Company Profile
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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