Corium International Inc (NASDAQ:CORI) Receives Average Rating of “Buy” from Analysts

Shares of Corium International Inc (NASDAQ:CORI) have earned a consensus rating of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.20.

CORI has been the subject of several recent analyst reports. Zacks Investment Research upgraded Corium International from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Friday, April 21st. Jefferies Group LLC set a $8.00 price objective on Corium International and gave the stock a “buy” rating in a research report on Thursday, April 20th. BidaskClub downgraded Corium International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. WBB Securities upgraded Corium International to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, July 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Corium International in a research report on Friday, April 14th.

In other news, major shareholder Perceptive Advisors Llc bought 1,902,400 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was purchased at an average cost of $6.25 per share, for a total transaction of $11,890,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences Maste Perceptive bought 301,004 shares of the company’s stock in a transaction on Friday, June 30th. The stock was purchased at an average price of $7.71 per share, with a total value of $2,320,740.84. The disclosure for this purchase can be found here. 46.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Corium International by 118.1% in 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 buying an additional 13,683 shares in the last quarter. Royce & Associates LP increased its position 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 in the last quarter. Broadfin Capital LLC increased its position 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 in the last quarter. AWM Investment Company Inc. increased its position 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 in the last quarter. Finally, Perceptive Advisors LLC purchased a new position in Corium International during the first quarter valued at approximately $11,096,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.

Shares of Corium International (CORI) traded down 1.14% during mid-day trading on Friday, hitting $7.81. The stock had a trading volume of 283,087 shares. Corium International has a 1-year low of $2.67 and a 1-year high of $9.57. The stock’s 50-day moving average price is $8.17 and its 200 day moving average price is $5.48. The company’s market capitalization is $228.30 million.

Corium International (NASDAQ:CORI) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.13. The firm had revenue of $8.11 million during the quarter, compared to analysts’ expectations of $8.71 million. On average, analysts predict that Corium International will post ($1.62) EPS for the current fiscal year.

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.