Corium International, Inc. (NASDAQ:CORI) Earns Buy Rating from Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Corium International, Inc. (NASDAQ:CORI) in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $10.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $8.00. Jefferies Group also issued estimates for Corium International’s Q4 2017 earnings at ($0.49) EPS, FY2017 earnings at ($1.81) EPS, FY2018 earnings at ($1.41) EPS, FY2019 earnings at ($1.59) EPS, FY2020 earnings at ($1.00) EPS and FY2021 earnings at $0.02 EPS.
A number of other research firms have also recently issued reports on CORI. WBB Securities upgraded shares of Corium International to a buy rating and set a $13.00 target price for the company in a research note on Friday, July 7th. BidaskClub cut shares of Corium International from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Corium International from a buy rating to a hold rating in a research note on Tuesday, July 11th. ValuEngine upgraded shares of Corium International from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $12.00 target price (up from $10.00) on shares of Corium International in a research note on Friday, May 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Corium International currently has an average rating of Buy and a consensus target price of $11.79.
Corium International (NASDAQ:CORI) opened at 7.46 on Monday. Corium International has a 12 month low of $2.67 and a 12 month high of $9.57. The firm’s market capitalization is $218.07 million. The firm’s 50-day moving average is $8.23 and its 200 day moving average is $5.53.
Corium International (NASDAQ:CORI) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by $0.13. The business had revenue of $8.11 million during the quarter, compared to analyst estimates of $8.71 million. Corium International had a negative net margin of 145.60% and a negative return on equity of 1,550.00%. Equities analysts predict that Corium International will post ($1.68) earnings per share for the current year.
In other news, major shareholder Perceptive Advisors Llc acquired 1,902,400 shares of Corium International stock in a transaction dated Thursday, May 25th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $11,890,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences Maste Perceptive acquired 301,004 shares of Corium International stock in a transaction dated Friday, June 30th. The stock was purchased at an average price of $7.71 per share, with a total value of $2,320,740.84. The disclosure for this purchase can be found here. 46.50% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Corium International by 118.1% in the first quarter. Bank of New York Mellon Corp now owns 25,269 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 13,683 shares during the period. Royce & Associates LP raised its position in shares of Corium International by 208.4% in the first quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock worth $2,293,000 after buying an additional 370,600 shares during the period. AWM Investment Company Inc. raised its position in shares of Corium International by 1,125.9% in the first quarter. AWM Investment Company Inc. now owns 2,451,700 shares of the biopharmaceutical company’s stock worth $10,248,000 after buying an additional 2,251,700 shares during the period. Perceptive Advisors LLC bought a new position in shares of Corium International during the first quarter worth about $11,096,000. Finally, Broadfin Capital LLC raised its position in shares of Corium International by 45.2% in the first quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock worth $11,650,000 after buying an additional 867,400 shares during the period. 77.81% of the stock is currently owned by institutional investors and hedge funds.
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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