Fmr LLC increased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 459.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 353,395 shares of the biotechnology company’s stock after acquiring an additional 290,263 shares during the period. Fmr LLC owned about 0.31% of Corcept Therapeutics worth $4,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in Corcept Therapeutics by 2,942.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 9,388 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Corcept Therapeutics by 52.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after acquiring an additional 3,390 shares during the last quarter. Sand Hill Global Advisors LLC bought a new stake in Corcept Therapeutics during the 2nd quarter worth $118,000. Jasper Ridge Partners L.P. bought a new stake in Corcept Therapeutics during the 2nd quarter worth $118,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Corcept Therapeutics during the 2nd quarter worth $127,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Shares of Corcept Therapeutics Incorporated (CORT) opened at $17.32 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $6.70 and a 52-week high of $20.77. The company has a market capitalization of $1,964.05, a PE ratio of 59.72 and a beta of 2.04.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Corcept Therapeutics had a net margin of 27.28% and a return on equity of 67.59%. The company had revenue of $42.70 million during the quarter, compared to the consensus estimate of $41.64 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 96.8% on a year-over-year basis. equities analysts expect that Corcept Therapeutics Incorporated will post 0.44 earnings per share for the current year.

CORT has been the topic of a number of research reports. Piper Jaffray Companies boosted their price objective on Corcept Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Stifel Nicolaus initiated coverage on Corcept Therapeutics in a research report on Thursday, August 31st. They set a “buy” rating and a $20.00 price objective on the stock. BidaskClub lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Ladenburg Thalmann Financial Services set a $20.00 price target on Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $18.20.

ILLEGAL ACTIVITY WARNING: “Fmr LLC Raises Position in Corcept Therapeutics Incorporated (CORT)” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/11/05/fmr-llc-raises-position-in-corcept-therapeutics-incorporated-cort.html.

Corcept Therapeutics 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).

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

Receive News & Stock Ratings for Corcept Therapeutics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics Incorporated and related stocks with our FREE daily email newsletter.