ClariVest Asset Management LLC Purchases Shares of 67,921 Corcept Therapeutics Incorporated (CORT)
ClariVest Asset Management LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 67,921 shares of the biotechnology company’s stock, valued at approximately $1,312,000. ClariVest Asset Management LLC owned about 0.06% of Corcept Therapeutics as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in CORT. UBS Asset Management Americas Inc. boosted its holdings in shares of Corcept Therapeutics by 178.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 46,217 shares of the biotechnology company’s stock valued at $507,000 after purchasing an additional 29,629 shares during the last quarter. FMR LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $692,000. Teachers Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 6.3% in the 1st quarter. Teachers Advisors LLC now owns 196,026 shares of the biotechnology company’s stock valued at $2,148,000 after purchasing an additional 11,566 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Corcept Therapeutics by 8.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 344,811 shares of the biotechnology company’s stock valued at $3,779,000 after purchasing an additional 27,071 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Corcept Therapeutics by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 3,750,510 shares of the biotechnology company’s stock valued at $41,106,000 after purchasing an additional 359,177 shares during the last quarter. Institutional investors own 63.33% of the company’s stock.
Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) opened at $17.58 on Wednesday. Corcept Therapeutics Incorporated has a one year low of $6.70 and a one year high of $20.77. The stock has a market cap of $1,950.38, a price-to-earnings ratio of 58.93 and a beta of 2.04.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). Corcept Therapeutics had a return on equity of 58.17% and a net margin of 27.28%. The firm had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $41.64 million. During the same period last year, the firm earned $0.02 EPS. The business’s quarterly revenue was up 96.8% on a year-over-year basis. analysts predict that Corcept Therapeutics Incorporated will post 0.47 earnings per share for the current year.
Several equities analysts recently weighed in on CORT shares. Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Piper Jaffray Companies set a $30.00 target price on shares of Corcept Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus started coverage on shares of Corcept Therapeutics in a report on Thursday, August 31st. They set a “buy” rating and a $20.00 target price on the stock. Finally, BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $18.20.
In other news, Director G Leonard Baker, Jr. sold 30,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $17.59, for a total value of $527,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.20% of the company’s stock.
Corcept Therapeutics Profile
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
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