In a report released today, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Corium (NASDAQ: CORI), with a price target of $14. The company’s shares opened today at $7.92, close to its 52-week low of $7.24.
“: We reiterate the Overweight rating and $14 PT for CORI stock. We believe the Corplex donepezil patch is approvable and that it could become an important treatment for Alzheimer’s disease (AD) by virtue of its 7-day transdermal delivery format and the potential to avoid GI side effects commonly associated with oral delivery of the drug. From a corporate development standpoint, we believe the patch will be an important validator of the CORI’s technology and product development capabilities and could provide an opportunity for the company to commence commercial activities, albeit on a relatively small scale.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 6.0% and a 53.9% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Currently, the analyst consensus on Corium is a Strong Buy with an average price target of $13.33.
The company has a one-year high of $13.93 and a one-year low of $7.24. Currently, Corium has an average volume of 252.5K.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CORI in relation to earlier this year. Most recently, in May 2018, Peter Staple, the President & CEO of CORI bought 23,586 shares for a total of $50,002.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Corium International, Inc. is a commercial stage biopharmaceutical company, which develops, manufactures and commercializes pharmaceutical products. The company development platforms enable transdermal delivery of large molecules or biologics, including vaccines, peptides and proteins, as well as small molecules that are otherwise difficult to deliver in a transdermal dosage form. The firm offers its products under the brands Corplex and MicroCor. Corium International was founded by Gary W. Cleary and Adrian L. Faasse, Jr. in 1999 and is headquartered in Menlo Park, CA.