Convergence Investment Partners LLC cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,121 shares of the biotechnology company’s stock after selling 30,481 shares during the quarter. Convergence Investment Partners LLC’s holdings in Corcept Therapeutics were worth $1,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Suntrust Banks Inc. boosted its position in Corcept Therapeutics by 4.0% during the second quarter. Suntrust Banks Inc. now owns 12,308 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 471 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Corcept Therapeutics by 0.7% during the second quarter. TIAA CREF Investment Management LLC now owns 347,171 shares of the biotechnology company’s stock worth $4,097,000 after acquiring an additional 2,360 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Corcept Therapeutics by 52.6% during the second 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. American International Group Inc. boosted its position in Corcept Therapeutics by 8.1% during the third quarter. American International Group Inc. now owns 61,110 shares of the biotechnology company’s stock worth $1,179,000 after acquiring an additional 4,569 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Corcept Therapeutics by 13.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 44,813 shares of the biotechnology company’s stock worth $865,000 after acquiring an additional 5,150 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corcept Therapeutics Incorporated (NASDAQ CORT) opened at $22.19 on Thursday. Corcept Therapeutics Incorporated has a 52 week low of $6.70 and a 52 week high of $22.45. The company has a market cap of $2,431.99, a PE ratio of 76.52 and a beta of 1.89.

Corcept Therapeutics (NASDAQ:CORT) last issued its 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 return on equity of 58.17% and a net margin of 27.28%. The firm had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $41.64 million. During the same period last year, the firm earned $0.02 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 96.8% on a year-over-year basis. analysts predict that Corcept Therapeutics Incorporated will post 0.47 EPS for the current fiscal year.

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $17.59, for a total transaction of $527,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $16.72, for a total transaction of $133,760.00. Following the transaction, the insider now directly owns 8,000 shares in the company, valued at $133,760. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $810,820 over the last ninety days. 19.20% of the stock is owned by insiders.

A number of equities analysts recently weighed in on CORT shares. BidaskClub lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Piper Jaffray Companies set a $30.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.00.

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

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