Corium International, Inc. (NASDAQ:CORI) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
CORI has been the topic of several other research reports. WBB Securities upgraded Corium International to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, July 7th. BidaskClub downgraded Corium International from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Corium International in a research note on Sunday, September 17th. ValuEngine upgraded shares of Corium International from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Corium International in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Corium International presently has a consensus rating of “Buy” and an average price target of $13.00.
Shares of Corium International (NASDAQ:CORI) opened at 10.39 on Tuesday. Corium International has a 1-year low of $2.67 and a 1-year high of $11.37. The stock’s market capitalization is $371.36 million. The firm’s 50-day moving average is $9.89 and its 200 day moving average is $7.47.
Corium International (NASDAQ:CORI) last announced its quarterly 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 company had revenue of $8.11 million for the quarter, compared to analyst estimates of $8.71 million. On average, analysts expect 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parminder Singh sold 30,415 shares of Corium International 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 310,053 shares of company stock valued at $3,106,539. Company insiders own 46.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund bought a new position in shares of Corium International during the second quarter valued at $158,000. Bank of New York Mellon Corp lifted its holdings in shares of 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 acquiring an additional 13,683 shares during the period. California State Teachers Retirement System bought a new position in shares of Corium International during the second quarter valued at $263,000. Teachers Advisors LLC bought a new position in shares of Corium International during the second quarter valued at $272,000. Finally, TIAA CREF Investment Management LLC bought a new position in shares of Corium International during the second quarter valued at $411,000. 90.14% of the stock is owned by institutional investors.
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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