Cantor Fitzgerald Reaffirms Buy Rating for Corium International, Inc. (CORI)
Cantor Fitzgerald reiterated their buy rating on shares of Corium International, Inc. (NASDAQ:CORI) in a research note released on Wednesday morning. Cantor Fitzgerald currently has a $12.00 target price on the biopharmaceutical company’s stock.
“CORI continues to make progress on the donepezil patch, which we believe could be an important new Alzheimer’s therapy with pivotal top-line data that demonstrate bioequivalence and reduced GI side effects.”,” Cantor Fitzgerald’s analyst wrote.
Other equities analysts have also issued reports about the company. WBB Securities raised Corium International to a buy rating and set a $13.00 target price for the company in a report on Friday, July 7th. Zacks Investment Research raised Corium International from a hold rating to a buy rating and set a $8.50 target price for the company in a report on Tuesday, June 6th. BidaskClub lowered Corium International from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a buy rating and issued a $8.00 target price on shares of Corium International in a report on Wednesday, July 19th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $13.00 target price on shares of Corium International in a report on Sunday, September 17th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Corium International currently has an average rating of Buy and an average price target of $12.56.
Corium International (CORI) traded up 3.65% on Wednesday, reaching $11.08. The company’s stock had a trading volume of 234,506 shares. The company’s market cap is $396.02 million. Corium International has a 52-week low of $2.67 and a 52-week high of $11.28. The firm’s 50-day moving average price is $8.44 and its 200 day moving average price is $6.67.
Corium International (NASDAQ:CORI) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.13). The business had revenue of $8.11 million during the quarter, compared to the consensus estimate of $8.71 million. Corium International had a negative net margin of 145.60% and a negative return on equity of 673.17%. Equities analysts anticipate that Corium International will post ($1.70) EPS for the current fiscal year.
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In other Corium International news, CAO Timothy D. Sweemer sold 15,488 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $7.82, for a total transaction of $121,116.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parminder Singh sold 30,415 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $7.59, for a total value of $230,849.85. Following the transaction, the insider now directly owns 30,762 shares of the company’s stock, valued at $233,483.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,953 shares of company stock valued at $705,258. 46.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new position in Corium International during the second quarter valued at $263,000. State Street Corp bought a new position in Corium International during the second quarter valued at $1,840,000. Stonepine Capital Management LLC bought a new position in Corium International during the second quarter valued at $3,085,000. EAM Investors LLC bought a new position in Corium International during the second quarter valued at $563,000. Finally, New York State Common Retirement Fund bought a new position in Corium International during the second quarter valued at $158,000. 90.14% of the stock is owned by institutional investors and hedge funds.
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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