Brokerages forecast that Corium International, Inc. (NASDAQ:CORI) will post $9.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Corium International’s earnings, with estimates ranging from $8.63 million to $10.51 million. Corium International posted sales of $7.92 million during the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The company is expected to report its next earnings report on Monday, November 20th.
On average, analysts expect that Corium International will report full-year sales of $9.57 million for the current financial year, with estimates ranging from $31.06 million to $32.93 million. For the next fiscal year, analysts expect that the firm will report sales of $35.74 million per share, with estimates ranging from $33.23 million to $38.25 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Corium International.
Corium International (NASDAQ:CORI) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.13). The business had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.71 million. Corium International had a negative return on equity of 673.17% and a negative net margin of 145.60%.
A number of brokerages have recently commented on CORI. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of Corium International in a research note on Monday, August 7th. ValuEngine raised shares of Corium International from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub cut shares of Corium International from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Corium International from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, October 3rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $12.00 price objective on shares of Corium International in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.00.
Corium International (CORI) traded up 1.24% during midday trading on Wednesday, hitting $9.80. 119,121 shares of the stock traded hands. The stock’s market capitalization is $350.27 million. The stock’s 50-day moving average price is $10.30 and its 200-day moving average price is $7.89. Corium International has a 52 week low of $2.67 and a 52 week high of $11.37.
In related news, major shareholder Healthcare Master Fun Broadfin sold 218,100 shares of Corium International stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $11.01, for a total value of $2,401,281.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Timothy D. Sweemer sold 15,488 shares of Corium International stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $7.82, for a total transaction of $121,116.16. The disclosure for this sale can be found here. Insiders sold a total of 308,015 shares of company stock worth $3,088,298 in the last three months. 45.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CORI. Stonepine Capital Management LLC acquired a new stake in Corium International in the 2nd quarter valued at $3,085,000. Royce & Associates LP grew its stake in Corium International by 208.4% in the 1st quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock valued at $2,293,000 after acquiring an additional 370,600 shares during the period. State Street Corp acquired a new stake in Corium International in the 2nd quarter valued at $1,840,000. EAM Investors LLC acquired a new stake in Corium International in the 2nd quarter valued at $563,000. Finally, TIAA CREF Investment Management LLC acquired a new stake in Corium International in the 2nd quarter valued at $411,000. 90.14% 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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