CORT has been the topic of several other research reports. Ladenburg Thalmann Financial Services initiated coverage on shares of Corcept Therapeutics in a report on Thursday, February 2nd. They issued a buy rating and a $14.00 price target on the stock. Piper Jaffray Companies reissued an overweight rating and set a $18.00 price objective (up previously from $12.00) on shares of Corcept Therapeutics in a research report on Wednesday, March 15th. Finally, Zacks Investment Research lowered Corcept Therapeutics from a hold rating to a sell rating in a research report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $11.75.
Corcept Therapeutics (NASDAQ:CORT) traded down 5.11% on Monday, hitting $11.51. 717,113 shares of the company were exchanged. The stock has a 50 day moving average of $10.30 and a 200 day moving average of $9.12. Corcept Therapeutics has a 52 week low of $4.95 and a 52 week high of $12.40. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 105.60 and a beta of 1.72.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $27.60 million for the quarter, compared to analysts’ expectations of $25.53 million. Corcept Therapeutics had a net margin of 6.21% and a return on equity of 28.11%. The company’s revenue for the quarter was up 71.9% on a year-over-year basis. Analysts predict that Corcept Therapeutics will post $0.26 EPS for the current fiscal year.
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In other news, Director Patrick G. Enright sold 750,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $9.75, for a total value of $7,312,500.00. Following the completion of the transaction, the director now owns 204,210 shares of the company’s stock, valued at approximately $1,991,047.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gary Charles Robb purchased 5,600 shares of the stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of $9.75 per share, with a total value of $54,600.00. Following the transaction, the chief financial officer now owns 6,858 shares in the company, valued at $66,865.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 4,119,955 shares of company stock valued at $38,110,853. 33.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in Corcept Therapeutics during the third quarter valued at approximately $1,121,000. Analytic Investors LLC increased its stake in Corcept Therapeutics by 65.5% in the third quarter. Analytic Investors LLC now owns 163,426 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 64,697 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $1,401,000. State Street Corp increased its stake in Corcept Therapeutics by 4.6% in the fourth quarter. State Street Corp now owns 1,260,066 shares of the biotechnology company’s stock valued at $9,147,000 after buying an additional 55,533 shares during the last quarter. Finally, Oxford Asset Management increased its stake in Corcept Therapeutics by 49.2% in the fourth quarter. Oxford Asset Management now owns 367,634 shares of the biotechnology company’s stock valued at $2,669,000 after buying an additional 121,167 shares during the last quarter. Institutional investors own 43.57% of the company’s stock.
About Corcept Therapeutics
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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