GABELLI & Co INVESTMENT ADVISERS INC. decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,000 shares of the biotechnology company’s stock after selling 5,500 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Corcept Therapeutics were worth $260,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. American International Group Inc. raised its stake in Corcept Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 46,000 shares of the biotechnology company’s stock worth $504,000 after buying an additional 3,042 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Corcept Therapeutics during the first quarter worth about $2,159,000. SG Americas Securities LLC raised its stake in Corcept Therapeutics by 79.6% in the first quarter. SG Americas Securities LLC now owns 37,533 shares of the biotechnology company’s stock worth $411,000 after buying an additional 16,632 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Corcept Therapeutics during the first quarter worth about $198,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Corcept Therapeutics during the first quarter worth about $1,132,000. Institutional investors own 55.96% of the company’s stock.

Shares of Corcept Therapeutics Incorporated (NASDAQ CORT) opened at 14.60 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $5.24 and a 52 week high of $15.58. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 72.64 and a beta of 2.06. The company has a 50 day moving average of $12.99 and a 200-day moving average of $10.86.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly 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. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. The company had revenue of $35.56 million during the quarter, compared to analyst estimates of $31.37 million. During the same period in the previous year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 80.3% compared to the same quarter last year. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post $0.43 earnings per share for the current fiscal year.

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A number of brokerages recently issued reports on CORT. BidaskClub lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research note on Wednesday, July 19th. Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, July 18th. TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research note on Monday, May 22nd. Finally, Piper Jaffray Companies set a $18.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $14.20.

In related news, Director David L. Mahoney sold 6,510 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total value of $81,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Mahoney sold 6,091 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $12.50, for a total value of $76,137.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,601 shares of company stock valued at $532,513. Corporate insiders own 19.20% 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).

Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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