APG Asset Management N.V. Invests $465,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)
APG Asset Management N.V. bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 31,019 shares of the biotechnology company’s stock, valued at approximately $465,000.
Other large investors also recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in shares of Corcept Therapeutics by 22.7% during the first quarter. Mutual of America Capital Management LLC now owns 4,539 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 839 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Corcept Therapeutics by 30.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,864 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 1,849 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $153,000. Magnus Financial Group LLC acquired a new stake in Corcept Therapeutics in the first quarter valued at approximately $124,000. Finally, Two Sigma Investments LP acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth $125,000. 76.31% of the stock is owned by institutional investors.
In related news, Director G Leonard Baker, Jr. acquired 25,807 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average price of $12.50 per share, with a total value of $322,587.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $16.48, for a total transaction of $82,400.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $82,400. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by corporate insiders.
Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Corcept Therapeutics had a return on equity of 29.10% and a net margin of 32.49%. The business had revenue of $88.60 million during the quarter, compared to the consensus estimate of $90.13 million. During the same quarter last year, the company earned $0.25 EPS. Corcept Therapeutics’s revenue was up 23.1% on a year-over-year basis. Equities research analysts expect that Corcept Therapeutics Incorporated will post 0.9 earnings per share for the current fiscal year.
A number of brokerages have recently commented on CORT. BidaskClub lowered Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 26th. ValuEngine raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Jefferies Financial Group lowered Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Wednesday, August 5th. TheStreet upgraded Corcept Therapeutics from a “c+” rating to a “b-” rating in a report on Tuesday, May 19th. Finally, Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Corcept Therapeutics presently has an average rating of “Hold” and a consensus price target of $17.00.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
See Also: Net Margin
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