Corcept Therapeutics (CORT) Lowered to Hold at BidaskClub
BidaskClub lowered shares of Corcept Therapeutics (NASDAQ:CORT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
CORT has been the subject of several other research reports. Stifel Nicolaus initiated coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They set a buy rating and a $20.00 price target for the company. Zacks Investment Research downgraded shares of Corcept Therapeutics from a buy rating to a hold rating in a research report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $18.00 price target on shares of Corcept Therapeutics and gave the company a buy rating in a research report on Thursday, August 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $21.00.
Shares of Corcept Therapeutics (CORT) traded up $0.03 on Wednesday, hitting $15.80. 1,366,000 shares of the company traded hands, compared to its average volume of 1,120,383. The company has a market capitalization of $1,799.74, a P/E ratio of 54.38 and a beta of 1.89. Corcept Therapeutics has a 12 month low of $6.70 and a 12 month high of $20.77.
In related news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.59, for a total value of $527,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $16.72, for a total transaction of $133,760.00. Following the completion of the sale, the insider now owns 8,000 shares in the company, valued at approximately $133,760. The disclosure for this sale can be found here. Company insiders own 19.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new position in shares of Corcept Therapeutics during the 3rd quarter worth $108,000. BNP Paribas Arbitrage SA boosted its stake in shares of Corcept Therapeutics by 2,942.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 9,388 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Corcept Therapeutics by 52.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after acquiring an additional 3,390 shares during the last quarter. Sand Hill Global Advisors LLC purchased a new position in shares of Corcept Therapeutics during the 2nd quarter worth $118,000. Finally, Jasper Ridge Partners L.P. purchased a new position in shares of Corcept Therapeutics during the 2nd quarter worth $118,000. Institutional investors own 64.64% of the company’s stock.
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Corcept Therapeutics Company 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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