Bank of New York Mellon Corp lifted its position in Corium International Inc (NASDAQ:CORI) by 33.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,445 shares of the biopharmaceutical company’s stock after purchasing an additional 22,285 shares during the quarter. Bank of New York Mellon Corp owned about 0.25% of Corium International worth $980,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. California State Teachers Retirement System purchased a new position in Corium International during the second quarter worth about $263,000. State Street Corp acquired a new stake in shares of Corium International during the second quarter worth about $1,840,000. Stonepine Capital Management LLC acquired a new stake in shares of Corium International during the second quarter worth about $3,085,000. EAM Investors LLC acquired a new stake in shares of Corium International during the second quarter worth about $563,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Corium International during the second quarter worth about $158,000. 89.12% of the stock is owned by institutional investors.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Corium International from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. ValuEngine raised shares of Corium International from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. BidaskClub upgraded shares of Corium International from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. HC Wainwright set a $14.00 target price on shares of Corium International and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Finally, Needham & Company LLC raised their target price on shares of Corium International from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $12.86.
In other news, major shareholder Perceptive Advisors Llc bought 50,350 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was acquired at an average price of $11.83 per share, for a total transaction of $595,640.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Healthcare Master Fun Broadfin sold 500,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $10.96, for a total value of $5,480,000.00. The disclosure for this sale can be found here. Insiders own 30.80% of the company’s stock.
Shares of Corium International Inc (NASDAQ CORI) traded down $0.23 during midday trading on Friday, hitting $12.31. 194,680 shares of the company’s stock traded hands, compared to its average volume of 204,221. The stock has a market cap of $444.62, a price-to-earnings ratio of -7.37 and a beta of 1.59. Corium International Inc has a 52 week low of $2.67 and a 52 week high of $13.93. The company has a quick ratio of 2.60, a current ratio of 2.70 and a debt-to-equity ratio of 2.41.
Corium International (NASDAQ:CORI) last released its quarterly earnings results on Thursday, November 16th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. Corium International had a negative return on equity of 482.64% and a negative net margin of 149.99%. equities research analysts forecast that Corium International Inc will post -1.47 earnings per share for the current year.
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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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