Corium International, Inc. (CORI) Stock Rating Upgraded by Zacks Investment Research
Corium International, Inc. (NASDAQ:CORI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $12.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.11% from the company’s current price.
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. “
A number of other research analysts have also weighed in on CORI. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of Corium International in a research report on Monday, August 7th. ValuEngine raised Corium International from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered Corium International from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $12.00 price objective on shares of Corium International in a research report on Wednesday, September 27th. Finally, HC Wainwright assumed coverage on Corium International in a research report on Tuesday, September 26th. They set a “buy” rating and a $15.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $13.00.
Shares of Corium International (NASDAQ CORI) opened at 11.10 on Tuesday. The company’s 50-day moving average price is $9.44 and its 200 day moving average price is $7.22. The company’s market cap is $396.74 million. Corium International has a one year low of $2.67 and a one year high of $11.37.
Corium International (NASDAQ:CORI) last posted its quarterly earnings data 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). Corium International had a negative net margin of 145.60% and a negative return on equity of 673.17%. The company had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.71 million. On average, equities research analysts anticipate that Corium International will post ($1.70) earnings per share for the current year.
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In other Corium International news, CAO Timothy D. Sweemer sold 12,012 shares of Corium International stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $7.62, for a total value of $91,531.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parminder Singh sold 30,415 shares of Corium International 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 of the company’s stock, valued at approximately $233,483.58. The disclosure for this sale can be found here. In the last three months, insiders sold 91,953 shares of company stock valued at $705,258. Corporate insiders own 46.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 13,683 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of Corium International in the 2nd quarter worth $158,000. California State Teachers Retirement System bought a new stake in shares of Corium International in the 2nd quarter worth $263,000. Teachers Advisors LLC bought a new stake in shares of Corium International in the 2nd quarter worth $272,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Corium International in the 2nd quarter worth $411,000. 90.14% of the stock is owned by institutional investors and hedge funds.
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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