Corium International, Inc. (NASDAQ:CORI) Downgraded by BidaskClub to “Sell”
BidaskClub cut shares of Corium International, Inc. (NASDAQ:CORI) from a hold rating to a sell rating in a research report report published on Friday morning.
Several other equities analysts also recently weighed in on the stock. Jefferies Group LLC reissued a buy rating and issued a $10.00 price target (up from $8.00) on shares of Corium International in a research note on Monday, August 7th. Zacks Investment Research downgraded shares of Corium International from a buy rating to a hold rating in a research note on Tuesday, July 11th. WBB Securities raised shares of Corium International to a buy rating and set a $13.00 price target on the stock in a research note on Friday, July 7th. ValuEngine raised shares of Corium International from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $12.00 price target (up from $10.00) on shares of Corium International in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $11.79.
Corium International (NASDAQ:CORI) remained flat at $7.42 during mid-day trading on Friday. The stock had a trading volume of 70,903 shares. Corium International has a one year low of $2.67 and a one year high of $9.57. The stock’s market cap is $265.18 million. The company’s 50-day moving average price is $8.25 and its 200 day moving average price is $5.65.
Corium International (NASDAQ:CORI) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.13. The business had revenue of $8.11 million during the quarter, compared to analysts’ expectations of $8.71 million. Corium International had a negative return on equity of 1,550.00% and a negative net margin of 145.60%. Analysts expect that Corium International will post ($1.69) earnings per share for the current fiscal year.
In other news, major shareholder Life Sciences Maste Perceptive acquired 301,004 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $7.71 per share, for a total transaction of $2,320,740.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Perceptive Advisors Llc acquired 1,902,400 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average price of $6.25 per share, with a total value of $11,890,000.00. The disclosure for this purchase can be found here. 46.50% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in CORI. Bank of New York Mellon Corp boosted its stake in 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 valued at $106,000 after buying an additional 13,683 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Corium International during the second quarter valued at about $158,000. Teachers Advisors LLC purchased a new stake in Corium International during the second quarter valued at about $272,000. TIAA CREF Investment Management LLC purchased a new stake in Corium International during the second quarter valued at about $411,000. Finally, EAM Investors LLC purchased a new stake in Corium International during the second quarter valued at about $563,000. Hedge funds and other institutional investors own 77.81% of the company’s stock.
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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