Corium International, Inc. (CORI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Corium International, Inc. (NASDAQ:CORI) from a buy rating to a hold rating in a research report sent to investors on Tuesday, July 11th.

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 have also recently weighed in on CORI. Jefferies Group LLC reiterated a buy rating and set a $8.00 price target on shares of Corium International in a research note on Friday, March 17th. Cantor Fitzgerald reiterated an overweight rating and set a $12.00 price target (up previously from $10.00) on shares of Corium International in a research note on Friday, May 12th. FBR & Co restated a buy rating on shares of Corium International in a research report on Tuesday, March 21st. ValuEngine upgraded shares of Corium International from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, WBB Securities upgraded shares of Corium International to a buy rating and set a $13.00 price objective on the stock in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Corium International currently has a consensus rating of Buy and an average price target of $11.79.

Corium International (CORI) remained flat at $7.42 during midday trading on Tuesday. The company’s stock had a trading volume of 70,903 shares. The company has a 50 day moving average of $8.25 and a 200-day moving average of $5.65. Corium International has a 52-week low of $2.67 and a 52-week high of $9.57. The stock’s market cap is $265.18 million.

Corium International (NASDAQ:CORI) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.13. Corium International had a negative return on equity of 1,550.00% and a negative net margin of 145.60%. The company had revenue of $8.11 million during the quarter, compared to analysts’ expectations of $8.71 million. Equities analysts anticipate that Corium International will post ($1.69) earnings per share for the current fiscal year.

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In other news, major shareholder Life Sciences Maste Perceptive purchased 301,004 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $7.71 per share, with a total value of $2,320,740.84. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Perceptive Advisors Llc acquired 1,902,400 shares of the stock in a transaction on Thursday, May 25th. The stock was bought at an average cost of $6.25 per share, with a total value of $11,890,000.00. The disclosure for this purchase can be found here. Insiders own 46.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Broadfin Capital LLC boosted its stake in Corium International by 45.2% in the first quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock valued at $11,650,000 after buying an additional 867,400 shares during the period. AWM Investment Company Inc. boosted its stake in Corium International by 1,125.9% in the first quarter. AWM Investment Company Inc. now owns 2,451,700 shares of the biopharmaceutical company’s stock valued at $10,248,000 after buying an additional 2,251,700 shares during the period. Perceptive Advisors LLC bought a new stake in Corium International during the first quarter valued at about $11,096,000. Royce & Associates LP boosted its stake in Corium International by 208.4% in the first quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock valued at $2,293,000 after buying an additional 370,600 shares during the period. Finally, EAM Investors LLC bought a new stake in Corium International during the second quarter valued at about $563,000. 77.81% 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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