Corium International, Inc. (CORI) Stock Price Up 5.8%
Corium International, Inc. (NASDAQ:CORI)’s share price rose 5.8% during trading on Friday . The company traded as high as $11.10 and last traded at $10.69. Approximately 790,000 shares traded hands during mid-day trading, an increase of 339% from the average daily volume of 179,965 shares. The stock had previously closed at $10.10.
CORI has been the topic of a number of recent analyst reports. BidaskClub lowered Corium International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated 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. ValuEngine downgraded Corium International from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Corium International in a research report on Sunday, September 17th. Finally, HC Wainwright began coverage on Corium International in a research report on Tuesday, September 26th. They set a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $13.00.
The company has a debt-to-equity ratio of 1.89, a quick ratio of 6.80 and a current ratio of 7.04.
In other Corium International news, major shareholder Healthcare Master Fun Broadfin sold 218,100 shares of Corium International stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $11.01, for a total transaction of $2,401,281.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Parminder Singh sold 30,415 shares of Corium International stock in a transaction that occurred 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 sale, the insider now directly owns 30,762 shares in the company, valued at $233,483.58. The disclosure for this sale can be found here. Insiders have sold 398,515 shares of company stock worth $4,289,631 over the last ninety days. Company insiders own 46.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Corium International by 161.8% during the second quarter. Bank of New York Mellon Corp now owns 66,160 shares of the biopharmaceutical company’s stock valued at $494,000 after purchasing an additional 40,891 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Corium International in the 2nd quarter worth approximately $563,000. Stonepine Capital Management LLC acquired a new position in shares of Corium International in the 2nd quarter worth approximately $3,085,000. California State Teachers Retirement System acquired a new position in shares of Corium International in the 2nd quarter worth approximately $263,000. Finally, State Street Corp acquired a new position in shares of Corium International in the 2nd quarter worth approximately $1,840,000. 90.25% of the stock is currently owned by institutional investors.
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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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