Insider Selling: Corium International, Inc. (CORI) Insider Sells 2,038 Shares of Stock

Corium International, Inc. (NASDAQ:CORI) insider Joseph J. Sarret sold 2,038 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $8.95, for a total transaction of $18,240.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Corium International, Inc. (NASDAQ:CORI) traded up 0.13% during midday trading on Friday, hitting $7.63. 106,567 shares of the company traded hands. Corium International, Inc. has a 12-month low of $2.67 and a 12-month high of $9.57. The stock’s market capitalization is $272.71 million. The stock’s 50-day moving average is $8.30 and its 200 day moving average is $5.79.

Corium International (NASDAQ:CORI) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $8.71 million. On average, analysts expect that Corium International, Inc. will post ($1.69) earnings per share for the current year.

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CORI has been the subject of several recent research reports. Zacks Investment Research raised shares of Corium International from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Friday, April 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 price target (up previously from $10.00) on shares of Corium International in a research report on Friday, May 12th. ValuEngine upgraded shares of Corium International from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. WBB Securities upgraded shares of Corium International to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, July 7th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $8.00 price target on shares of Corium International in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $11.79.

A number of hedge funds and other institutional investors have recently made changes to their positions in CORI. California State Teachers Retirement System bought a new position in shares of Corium International during the second quarter worth $263,000. State Street Corp bought a new position in shares of Corium International during the second quarter worth $1,840,000. Stonepine Capital Management LLC bought a new position in shares of Corium International during the second quarter worth $3,085,000. EAM Investors LLC bought a new position in shares of Corium International during the second quarter worth $563,000. Finally, New York State Common Retirement Fund bought a new position in shares of Corium International during the second quarter worth $158,000. 75.63% of the stock is currently owned by hedge funds and other 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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