Needham & Company LLC Reiterates Buy Rating for Corium International, Inc. (CORI)
Corium International, Inc. (NASDAQ:CORI)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Sunday. They currently have a $13.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 31.18% from the stock’s previous close.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Corium International from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. WBB Securities upgraded Corium International to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and set a $8.00 target price on shares of Corium International in a research report on Wednesday, July 19th. BidaskClub upgraded Corium International from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, ValuEngine downgraded Corium International from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $12.21.
Shares of Corium International (NASDAQ:CORI) opened at 9.91 on Friday. Corium International has a one year low of $2.67 and a one year high of $10.35. The company’s market capitalization is $354.20 million. The stock has a 50 day moving average of $8.34 and a 200-day moving average of $6.53.
Corium International (NASDAQ:CORI) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.13). The company had revenue of $8.11 million for the quarter, compared to analysts’ expectations of $8.71 million. Corium International had a negative net margin of 145.60% and a negative return on equity of 673.17%. On average, equities analysts expect that Corium International will post ($1.69) earnings per share for the current year.
In related news, insider Parminder Singh sold 30,415 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $7.59, for a total value of $230,849.85. Following the completion of the sale, the insider now directly owns 30,762 shares in the company, valued at $233,483.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Life Sciences Maste Perceptive purchased 301,004 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was bought 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. Over the last 90 days, insiders sold 91,953 shares of company stock valued at $705,258. 46.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CORI. Bank of New York Mellon Corp lifted its position 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 worth $106,000 after buying an additional 13,683 shares during the last quarter. Royce & Associates LP lifted its position in 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 last quarter. AWM Investment Company Inc. lifted its position in 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 last quarter. Broadfin Capital LLC lifted its position in 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 last quarter. Finally, Perceptive Advisors LLC bought a new stake in Corium International in the first quarter worth $11,096,000. Institutional investors own 90.14% of the company’s stock.
About Corium International
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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