Exchange Traded Concepts LLC raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,591 shares of the biotechnology company’s stock after acquiring an additional 3,876 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Corcept Therapeutics were worth $1,036,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CORT. FMR LLC boosted its stake in Corcept Therapeutics by 36.2% during the 1st quarter. FMR LLC now owns 764,795 shares of the biotechnology company’s stock valued at $8,979,000 after acquiring an additional 203,200 shares during the last quarter. First Trust Advisors LP bought a new position in Corcept Therapeutics during the 1st quarter valued at $1,959,000. Bank of Montreal Can boosted its stake in Corcept Therapeutics by 203.7% during the 2nd quarter. Bank of Montreal Can now owns 12,195 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 8,179 shares during the last quarter. Vanguard Group Inc. boosted its stake in Corcept Therapeutics by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 11,239,346 shares of the biotechnology company’s stock valued at $189,045,000 after acquiring an additional 121,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Corcept Therapeutics by 10.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 765,858 shares of the biotechnology company’s stock valued at $12,882,000 after acquiring an additional 74,478 shares during the last quarter. Hedge funds and other institutional investors own 75.44% of the company’s stock.
A number of research firms have recently issued reports on CORT. HC Wainwright raised their price target on shares of Corcept Therapeutics from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, November 27th. Zacks Investment Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating and set a $25.00 price target on the stock. in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.00.
Corcept Therapeutics stock opened at $28.63 on Thursday. The firm’s 50-day moving average is $26.23 and its 200-day moving average is $19.45. Corcept Therapeutics Incorporated has a 1 year low of $9.70 and a 1 year high of $29.28. The company has a market cap of $3.33 billion, a P/E ratio of 32.17 and a beta of 1.04.
Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Sunday, November 8th. The biotechnology company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). The firm had revenue of $86.30 million during the quarter, compared to the consensus estimate of $90.87 million. Corcept Therapeutics had a net margin of 30.73% and a return on equity of 25.38%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 0.82 EPS for the current year.
In related news, CAO Joseph Douglas Lyon sold 25,000 shares of Corcept Therapeutics stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $26.13, for a total value of $653,250.00. Following the sale, the chief accounting officer now directly owns 4,167 shares in the company, valued at approximately $108,883.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director G Leonard Baker, Jr. acquired 1,109 shares of the business’s stock in a transaction that occurred on Monday, November 30th. The stock was purchased at an average price of $22.80 per share, for a total transaction of $25,285.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 24,604 shares of company stock worth $455,877. 16.40% of the stock is currently owned by insiders.
Corcept Therapeutics Profile
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.
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