Corium International (CORI) Stock Rating Reaffirmed by Cantor Fitzgerald
Corium International (NASDAQ:CORI)‘s stock had its “buy” rating reaffirmed by research analysts at Cantor Fitzgerald in a note issued to investors on Friday. They currently have a $14.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 35.79% from the company’s previous close.
The analysts wrote, “Changes to the CORI model. We updated our CORI model Twirla segment to reflect changes made to AGRX, shifting our assumed Twirla launch to 2Q19 and increasing our pTS to 50% from 75%. We are maintaining our peak Twirla sales assumptions of $230 million in 2024. We have always assumed CORI captures a lower margin on Twirla sales in keeping with their manufacturing role that reduces the incremental value of the program relative to other proprietary projects. These changes did not alter our price target of $14.””
Other analysts also recently issued reports about the company. Needham & Company LLC boosted their target price on shares of Corium International from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 20th. HC Wainwright set a $15.00 target price on shares of Corium International and gave the stock a “buy” rating in a report on Friday, November 17th. Jefferies Group set a $10.00 target price on shares of Corium International and gave the stock a “buy” rating in a report on Sunday, October 29th. Zacks Investment Research upgraded shares of Corium International from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of Corium International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Corium International presently has an average rating of “Buy” and an average price target of $13.29.
Shares of Corium International (NASDAQ CORI) opened at $10.31 on Friday. The company has a quick ratio of 6.80, a current ratio of 7.04 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $337.42, a PE ratio of -6.17 and a beta of 1.27. Corium International has a fifty-two week low of $2.67 and a fifty-two week high of $12.32.
In other news, major shareholder Healthcare Master Fun Broadfin sold 150,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $11.05, for a total transaction of $1,657,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 868,100 shares of company stock worth $9,538,781 in the last 90 days. Insiders own 46.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Corium International by 161.8% in the second quarter. Bank of New York Mellon Corp now owns 66,160 shares of the biopharmaceutical company’s stock valued at $494,000 after buying an additional 40,891 shares during the last quarter. TIAA CREF Investment Management LLC purchased a new stake in Corium International in the 2nd quarter worth approximately $411,000. Teachers Advisors LLC purchased a new stake in Corium International in the 2nd quarter worth approximately $272,000. EAM Investors LLC purchased a new stake in Corium International in the 2nd quarter worth approximately $563,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of Corium International during the 2nd quarter worth approximately $3,085,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.
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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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