Corcept Therapeutics Incorporated (CORT) Trading -2.2% Higher
Corcept Therapeutics Incorporated (NASDAQ:CORT) traded up 2.2% on Friday . The company traded as high as $20.77 and last traded at $20.26. 642,343 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 1,238,980 shares. The stock had previously closed at $20.72.
A number of equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Stifel Nicolaus assumed coverage on shares of Corcept Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price objective on the stock. Zacks Investment Research cut shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Piper Jaffray Companies set a $18.00 price objective on shares of Corcept Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Ladenburg Thalmann Financial Services set a $20.00 target price on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Corcept Therapeutics currently has a consensus rating of “Buy” and an average target price of $16.17.
The stock has a market cap of $2.31 billion, a PE ratio of 101.34 and a beta of 2.12. The stock has a 50-day moving average of $17.22 and a 200 day moving average of $12.93.
Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $35.56 million during the quarter, compared to analysts’ expectations of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. Corcept Therapeutics’s revenue for the quarter was up 80.3% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. Analysts forecast that Corcept Therapeutics Incorporated will post $0.42 EPS for the current year.
In other Corcept Therapeutics news, Director David L. Mahoney sold 6,510 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $12.50, for a total transaction of $81,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Mahoney sold 6,091 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $12.50, for a total transaction of $76,137.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,601 shares of company stock valued at $532,513. Company insiders own 19.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tanaka Capital Management Inc. lifted its stake in Corcept Therapeutics by 62.6% during the 2nd quarter. Tanaka Capital Management Inc. now owns 139,397 shares of the biotechnology company’s stock valued at $1,645,000 after acquiring an additional 53,692 shares during the period. California State Teachers Retirement System lifted its stake in Corcept Therapeutics by 9.7% during the 2nd quarter. California State Teachers Retirement System now owns 161,438 shares of the biotechnology company’s stock valued at $1,905,000 after acquiring an additional 14,300 shares during the period. 361 Capital LLC acquired a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $428,000. The Manufacturers Life Insurance Company lifted its stake in Corcept Therapeutics by 201.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,414 shares of the biotechnology company’s stock valued at $2,140,000 after acquiring an additional 121,292 shares during the period. Finally, State Street Corp lifted its stake in Corcept Therapeutics by 26.1% during the 2nd quarter. State Street Corp now owns 2,028,013 shares of the biotechnology company’s stock valued at $23,931,000 after acquiring an additional 420,139 shares during the period. Institutional investors and hedge funds own 61.48% 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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