Corium International, Inc. (CORI) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Corium International, Inc. (NASDAQ:CORI) from a buy rating to a sell rating in a research report report published on Tuesday morning.
According to Zacks, “Corium International, Inc. is a commercial-stage biopharmaceutical company. It is focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage advanced technologies in transdermal and transmucosal delivery systems. Corium has developed six marketed products in the prescription drug and consumer markets: Clonidine Transdermal Delivery System for hypertension, Fentanyl TDS for chronic pain and four Crest Advanced Seal Whitestrips products. The company has two proprietary transdermal technology platforms with applications in multiple drug categories and indications: Corplex(TM) and MicroCor(R). Corium International, Inc. is headquartered in Menlo Park, California. “
Several other brokerages also recently commented on CORI. Jefferies Group LLC reissued a buy rating and issued a $10.00 price objective (up from $8.00) on shares of Corium International in a research note on Monday, August 7th. BidaskClub downgraded Corium International from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. ValuEngine raised Corium International from a sell rating to a hold rating in a research note on Friday, September 1st. Cantor Fitzgerald reaffirmed a buy rating and set a $12.00 price target on shares of Corium International in a research report on Wednesday, September 27th. Finally, HC Wainwright initiated coverage on Corium International in a research report on Tuesday, September 26th. They set a buy rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Corium International currently has an average rating of Buy and a consensus price target of $13.00.
Corium International (NASDAQ:CORI) opened at 10.30 on Tuesday. The stock has a 50 day moving average of $9.81 and a 200 day moving average of $7.45. The firm’s market cap is $368.14 million. Corium International has a one year low of $2.67 and a one year high of $11.37.
Corium International (NASDAQ:CORI) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.13). Corium International had a negative net margin of 145.60% and a negative return on equity of 673.17%. The business had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.71 million. On average, equities analysts forecast that Corium International will post ($1.70) earnings per share for the current year.
In related news, CAO Timothy D. Sweemer sold 15,488 shares of Corium International 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Healthcare Master Fun Broadfin sold 218,100 shares of Corium International stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $11.01, for a total value of $2,401,281.00. The disclosure for this sale can be found here. Insiders have sold 310,053 shares of company stock valued at $3,106,539 in the last three months. 45.70% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of CORI. Bank of New York Mellon Corp raised its position in Corium International by 118.1% during 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 purchasing an additional 13,683 shares in the last quarter. Royce & Associates LP raised its position in Corium International by 208.4% during the first quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock valued at $2,293,000 after purchasing an additional 370,600 shares in the last quarter. Broadfin Capital LLC raised its position in Corium International by 45.2% during the first quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock valued at $11,650,000 after purchasing an additional 867,400 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Corium International during the first quarter valued at about $11,096,000. Finally, Teachers Advisors LLC purchased a new stake in Corium International during the second quarter valued at about $272,000. 90.14% of the stock is owned by institutional investors.
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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