Zacks Investment Research cut shares of Cumberland Pharmaceuticals (NASDAQ:CPIX) from a buy rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “Cumberland Pharmaceuticals, Inc., headquartered in Nashville, Tennessee, is a specialty pharmaceutical company focused on acquiring, developing, and commercializing branded prescription products for the acute care and gastroenterology markets. The company’s lead product candidate, Amelior, which is in phase III clinical trials, is an intravenous formulation of ibuprofen for the treatment of both pain and fever. Its products also comprise Acetadote, an intravenous formulation of N-acetylcysteine for the treatment of acetaminophen poisoning; and Kristalose, a prescription laxative product, which is a crystalline form of lactulose to enhance patient acceptance and compliance. In addition, the company is developing a treatment for fluid buildup in the lungs of cancer patients and an anti-infective for treating fungal infections in immuno-compromised patients. “
Separately, B. Riley reduced their price target on shares of Cumberland Pharmaceuticals from $9.25 to $8.75 and set a buy rating for the company in a report on Friday, August 17th.
Cumberland Pharmaceuticals (NASDAQ:CPIX) last released its quarterly earnings results on Tuesday, August 14th. The specialty pharmaceutical company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The company had revenue of $10.16 million during the quarter, compared to analysts’ expectations of $9.94 million. Cumberland Pharmaceuticals had a negative net margin of 11.16% and a negative return on equity of 3.12%. On average, sell-side analysts forecast that Cumberland Pharmaceuticals will post -0.4 earnings per share for the current year.
An institutional investor recently raised its position in Cumberland Pharmaceuticals stock. Renaissance Technologies LLC grew its stake in Cumberland Pharmaceuticals, Inc. (NASDAQ:CPIX) by 6.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,209 shares of the specialty pharmaceutical company’s stock after buying an additional 23,709 shares during the quarter. Renaissance Technologies LLC owned 2.40% of Cumberland Pharmaceuticals worth $2,312,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 34.49% of the company’s stock.
Cumberland Pharmaceuticals Company Profile
Cumberland Pharmaceuticals Inc, a specialty pharmaceutical company, together with its subsidiaries, focuses on acquiring, developing, and commercializing branded prescription products for hospital acute care, gastroenterology, and oncology markets in the United States and internationally. Its marketed products include Acetadote (acetylcysteine) injection for the treatment of acetaminophen poisoning; Caldolor (ibuprofen) injection for the treatment of pain and fever; Kristalose (lactulose) for the treatment of chronic and acute constipation; Vaprisol (conivaptan) injection for treating hyponatremia; Omeclamox-Pak for the treatment of Helicobacter pylori infection and duodenal ulcer disease; Ethyol (amifostine) for injection to treat oncology patients; and Totect Injection for the treatment of toxic effects.
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