Corium International, Inc. (CORI) Forecasted to Post FY2017 Earnings of ($1.81) Per Share
Corium International, Inc. (NASDAQ:CORI) – Analysts at Jefferies Group reduced their FY2017 earnings per share estimates for Corium International in a research report issued to clients and investors on Monday. Jefferies Group analyst D. Steinberg now forecasts that the biopharmaceutical company will post earnings of ($1.81) per share for the year, down from their prior estimate of ($1.76). Jefferies Group currently has a “Buy” rating and a $10.00 target price on the stock. Jefferies Group also issued estimates for Corium International’s Q4 2017 earnings at ($0.49) EPS, FY2018 earnings at ($1.41) EPS, FY2019 earnings at ($1.59) EPS, FY2020 earnings at ($1.00) EPS and FY2021 earnings at $0.02 EPS.
A number of other research firms have also recently issued reports on CORI. BidaskClub cut Corium International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price objective (up from $10.00) on shares of Corium International in a research report on Friday, May 12th. ValuEngine upgraded Corium International from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Corium International from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research report on Friday, April 21st. Finally, FBR & Co restated an “outperform” rating and set a $13.00 price objective (up from $12.00) on shares of Corium International in a research report on Tuesday, April 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Corium International presently has a consensus rating of “Buy” and an average target price of $11.79.
Corium International (CORI) opened at 7.61 on Wednesday. The company’s market capitalization is $222.46 million. Corium International has a 52 week low of $2.67 and a 52 week high of $9.57. The company’s 50-day moving average price is $8.23 and its 200 day moving average price is $5.53.
Corium International (NASDAQ:CORI) last announced its quarterly earnings data 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 firm had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.71 million.
Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $106,000 after buying an additional 13,683 shares during the period. Royce & Associates LP boosted its stake in shares of Corium International by 208.4% in the first quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock worth $2,293,000 after buying an additional 370,600 shares during the period. Broadfin Capital LLC boosted its stake in shares of Corium International by 45.2% in the first quarter. Broadfin Capital LLC now owns 2,787,121 shares of the biopharmaceutical company’s stock worth $11,650,000 after buying an additional 867,400 shares during the period. AWM Investment Company Inc. boosted its stake in shares of 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 worth $10,248,000 after buying an additional 2,251,700 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in shares of Corium International during the first quarter worth $11,096,000. Hedge funds and other institutional investors own 77.81% of the company’s stock.
In related news, major shareholder Perceptive Advisors Llc purchased 1,902,400 shares of the stock in a transaction on Thursday, May 25th. The shares were purchased at an average cost of $6.25 per share, for a total transaction of $11,890,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Life Sciences Maste Perceptive purchased 301,004 shares of the stock in a transaction on Friday, June 30th. The stock was bought at an average price of $7.71 per share, for a total transaction of $2,320,740.84. The disclosure for this purchase can be found here. Corporate insiders own 45.70% of the company’s stock.
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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