Corcept Therapeutics Incorporated (CORT) Trading -7.1% Higher
Corcept Therapeutics Incorporated (NASDAQ:CORT) traded up 7.1% on Thursday . The stock traded as high as $20.11 and last traded at $18.65. 1,051,317 shares were traded during mid-day trading, a decline of 24% from the average session volume of 1,384,940 shares. The stock had previously closed at $20.07.
Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Corcept Therapeutics in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $16.17.
The firm has a market cap of $2.13 billion, a PE ratio of 93.23 and a beta of 2.12. The company has a 50 day moving average of $17.82 and a 200 day moving average of $13.22.
Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $35.56 million for the quarter, compared to analysts’ expectations of $31.37 million. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. The firm’s quarterly revenue was up 80.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post $0.42 EPS for the current year.
In related news, Director David L. Mahoney sold 6,091 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $12.50, for a total value of $76,137.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David L. Mahoney sold 23,006 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $12.50, for a total value of $287,575.00. The disclosure for this sale can be found here. 19.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CORT. Marshall Wace North America L.P. bought a new position in Corcept Therapeutics in the second quarter valued at about $13,942,000. Renaissance Technologies LLC boosted its holdings in Corcept Therapeutics by 44.4% in the second quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock valued at $31,664,000 after acquiring an additional 824,900 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Corcept Therapeutics by 18.4% in the second quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock valued at $52,394,000 after acquiring an additional 689,554 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Corcept Therapeutics by 316.9% in the second quarter. Teachers Advisors LLC now owns 817,245 shares of the biotechnology company’s stock valued at $9,643,000 after acquiring an additional 621,219 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Corcept Therapeutics by 3,409.5% in the second quarter. Prudential Financial Inc. now owns 633,223 shares of the biotechnology company’s stock valued at $7,472,000 after acquiring an additional 615,180 shares during the last quarter. 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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