QRG Capital Management Inc. Has $649,000 Stake in Corcept Therapeutics Incorporated $CORT

QRG Capital Management Inc. lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 92.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,811 shares of the biotechnology company’s stock after selling 102,941 shares during the period. QRG Capital Management Inc.’s holdings in Corcept Therapeutics were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Corcept Therapeutics in the second quarter valued at $28,000. Huntington National Bank grew its stake in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 168 shares during the period. Employees Retirement System of Texas bought a new stake in Corcept Therapeutics in the 2nd quarter valued at about $52,000. USA Financial Formulas bought a new stake in Corcept Therapeutics in the 2nd quarter valued at about $56,000. Finally, Salomon & Ludwin LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $56,000. 93.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CORT has been the subject of a number of research reports. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Wednesday, December 31st. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $145.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, January 2nd. Canaccord Genuity Group decreased their price target on shares of Corcept Therapeutics from $140.00 to $99.00 and set a “buy” rating for the company in a research note on Friday, January 2nd. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $80.83.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $36.31 on Thursday. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $66.56 and its two-hundred day simple moving average is $71.47. Corcept Therapeutics Incorporated has a 1-year low of $32.99 and a 1-year high of $117.33. The stock has a market cap of $3.82 billion, a PE ratio of 41.26 and a beta of 0.23.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Activity

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $79.77, for a total transaction of $3,190,800.00. Following the transaction, the chief executive officer owned 2,701,370 shares of the company’s stock, valued at $215,488,284.90. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.52, for a total value of $1,590,400.00. Following the completion of the transaction, the insider owned 7,904 shares in the company, valued at $628,526.08. The trade was a 71.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 194,500 shares of company stock worth $14,186,410. Corporate insiders own 20.80% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.