HC Wainwright Initiates Coverage on Corium International, Inc. (CORI)
HC Wainwright initiated coverage on shares of Corium International, Inc. (NASDAQ:CORI) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $15.00 target price on the biopharmaceutical company’s stock.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Corium International from a buy rating to a hold rating in a research note on Monday, June 5th. WBB Securities upgraded shares of Corium International to a buy rating and set a $13.00 price target for the company in a research note on Friday, July 7th. Jefferies Group LLC reiterated a buy rating and set a $8.00 price target on shares of Corium International in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Corium International from a sell rating to a hold rating in a research note on Friday, August 25th. Finally, ValuEngine cut shares of Corium International from a hold rating to a sell rating in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $12.56.
Shares of Corium International (CORI) traded up 3.65% on Tuesday, hitting $11.08. 234,506 shares of the company traded hands. The stock’s 50-day moving average price is $8.44 and its 200-day moving average price is $6.67. Corium International has a 12 month low of $2.67 and a 12 month high of $11.28. The company’s market capitalization is $396.02 million.
Corium International (NASDAQ:CORI) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.13). The business had revenue of $8.11 million for the quarter, compared to analyst estimates of $8.71 million. Corium International had a negative return on equity of 673.17% and a negative net margin of 145.60%. On average, equities analysts predict that Corium International will post ($1.70) earnings per share for the current year.
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In other news, insider Parminder Singh sold 30,415 shares of the firm’s 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 completion of the sale, the insider now owns 30,762 shares in the company, valued at approximately $233,483.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Timothy D. Sweemer sold 15,488 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold a total of 91,953 shares of company stock valued at $705,258 in the last 90 days. Company insiders own 46.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CORI. Bank of New York Mellon Corp lifted its stake in shares of Corium International by 118.1% in the 1st quarter. Bank of New York Mellon Corp now owns 25,269 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 13,683 shares during the period. Royce & Associates LP lifted its stake in shares of Corium International by 208.4% in the 1st quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock worth $2,293,000 after acquiring an additional 370,600 shares during the period. AWM Investment Company Inc. lifted its stake in shares of Corium International by 1,125.9% in the 1st quarter. AWM Investment Company Inc. now owns 2,451,700 shares of the biopharmaceutical company’s stock worth $10,248,000 after acquiring an additional 2,251,700 shares during the period. Broadfin Capital LLC lifted its stake in shares of Corium International by 45.2% in the 1st quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock worth $11,650,000 after acquiring an additional 867,400 shares during the period. Finally, Perceptive Advisors LLC acquired a new stake in shares of Corium International in the 1st 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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