APG Asset Management N.V. Makes New $465,000 Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)
APG Asset Management N.V. bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 31,019 shares of the biotechnology company’s stock, valued at approximately $465,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC boosted its position in Corcept Therapeutics by 22.7% in the first quarter. Mutual of America Capital Management LLC now owns 4,539 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 839 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Corcept Therapeutics by 30.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,864 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 1,849 shares during the last quarter. Magnus Financial Group LLC acquired a new stake in Corcept Therapeutics in the first quarter valued at $124,000. Two Sigma Investments LP acquired a new position in Corcept Therapeutics during the 1st quarter worth about $125,000. Finally, Assetmark Inc. bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at about $153,000. Institutional investors own 76.31% of the company’s stock.
CORT has been the subject of several analyst reports. BidaskClub lowered shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 26th. Jefferies Financial Group cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Wednesday, August 5th. Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Tuesday, June 23rd. TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b-” rating in a report on Tuesday, May 19th. Finally, ValuEngine raised Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.00.
Shares of CORT stock opened at $17.72 on Wednesday. Corcept Therapeutics Incorporated has a 52 week low of $9.70 and a 52 week high of $23.48. The firm’s 50-day simple moving average is $15.22 and its two-hundred day simple moving average is $14.21. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 19.15 and a beta of 0.98.
Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Corcept Therapeutics had a net margin of 32.49% and a return on equity of 29.10%. The company had revenue of $88.60 million for the quarter, compared to analysts’ expectations of $90.13 million. During the same quarter in the previous year, the firm posted $0.25 EPS. Corcept Therapeutics’s revenue was up 23.1% on a year-over-year basis. As a group, analysts expect that Corcept Therapeutics Incorporated will post 0.9 earnings per share for the current year.
About Corcept Therapeutics
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
Further Reading: Float
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