HC Wainwright Downgrades Corium International (CORI) to Neutral

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HC Wainwright cut shares of Corium International (NASDAQ:CORI) from a buy rating to a neutral rating in a research report report published on Monday, October 15th, MarketBeat reports. The firm currently has $13.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Corium International from a hold rating to a buy rating in a research report on Friday, August 10th. Cantor Fitzgerald reissued a buy rating and issued a $14.00 price target on shares of Corium International in a report on Friday, August 10th. Zacks Investment Research raised Corium International from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, BidaskClub raised Corium International from a strong sell rating to a sell rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $13.50.

NASDAQ:CORI traded down $0.01 on Monday, hitting $12.60. 493,754 shares of the stock were exchanged, compared to its average volume of 2,414,674. The firm has a market capitalization of $457.12 million, a PE ratio of -7.68 and a beta of 0.87. The company has a debt-to-equity ratio of 2.83, a current ratio of 7.61 and a quick ratio of 7.47. Corium International has a fifty-two week low of $7.17 and a fifty-two week high of $13.93.

Corium International (NASDAQ:CORI) last announced its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.04. Corium International had a negative return on equity of 276.89% and a negative net margin of 155.21%. The company had revenue of $7.67 million during the quarter, compared to analyst estimates of $6.72 million. As a group, research analysts anticipate that Corium International will post -1.53 earnings per share for the current year.

In other news, insider Joseph J. Sarret sold 3,565 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $9.01, for a total transaction of $32,120.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive sold 3,632,447 shares of the stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $12.52, for a total value of $45,478,236.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,752,412 shares of company stock worth $46,538,512. 30.80% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in CORI. BlackRock Inc. raised its position in shares of Corium International by 17.8% during the 2nd quarter. BlackRock Inc. now owns 2,215,762 shares of the biopharmaceutical company’s stock worth $17,748,000 after purchasing an additional 335,257 shares during the period. Royce & Associates LP increased its position in Corium International by 99.2% in the 2nd quarter. Royce & Associates LP now owns 502,564 shares of the biopharmaceutical company’s stock valued at $4,026,000 after acquiring an additional 250,300 shares during the period. Fosun International Ltd acquired a new stake in Corium International in the 3rd quarter valued at approximately $1,276,000. JPMorgan Chase & Co. increased its position in Corium International by 1,746.7% in the 1st quarter. JPMorgan Chase & Co. now owns 96,935 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 91,686 shares during the period. Finally, Northern Trust Corp increased its position in Corium International by 30.9% in the 2nd quarter. Northern Trust Corp now owns 315,565 shares of the biopharmaceutical company’s stock valued at $2,528,000 after acquiring an additional 74,454 shares during the period.

Corium International Company Profile

Corium International, Inc, a biopharmaceutical company, focuses on the development, manufacture, and commercialization of specialty pharmaceutical products in transdermal and transmucosal delivery systems. It offers Clonidine Transdermal Delivery System (TDS), a treatment for hypertension; Fentanyl TDS, a treatment for the management of chronic pain, including cancer-related pain; and Crest Whitestrips for teeth whitening.

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