Corcept Therapeutics (NASDAQ:CORT) Trading Up 6.6%

Corcept Therapeutics Incorporated (NASDAQ:CORT) shares were up 6.6% on Thursday . The stock traded as high as $11.15 and last traded at $11.14. Approximately 664,861 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,119,080 shares. The stock had previously closed at $10.45.

CORT has been the topic of a number of analyst reports. ValuEngine upgraded shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. BidaskClub cut shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Friday, April 5th. Cantor Fitzgerald reiterated a “hold” rating and set a $14.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, May 1st. Finally, TheStreet cut shares of Corcept Therapeutics from a “b” rating to a “c+” rating in a research report on Friday, May 10th. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 18.26 and a beta of 1.54. The stock’s 50-day simple moving average is $10.40.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.03). The company had revenue of $64.80 million during the quarter, compared to the consensus estimate of $69.29 million. Corcept Therapeutics had a return on equity of 28.66% and a net margin of 29.52%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Analysts anticipate that Corcept Therapeutics Incorporated will post 0.78 EPS for the current year.

In other news, Director G Leonard Baker, Jr. sold 30,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $9.78, for a total value of $293,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CORT. Norges Bank bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $9,423,000. PNC Financial Services Group Inc. grew its holdings in shares of Corcept Therapeutics by 6,144.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 464,312 shares of the biotechnology company’s stock worth $6,203,000 after purchasing an additional 456,876 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Corcept Therapeutics by 310.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 530,783 shares of the biotechnology company’s stock worth $7,091,000 after purchasing an additional 401,493 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Corcept Therapeutics by 99.7% in the first quarter. Acadian Asset Management LLC now owns 411,843 shares of the biotechnology company’s stock worth $4,837,000 after acquiring an additional 205,567 shares during the period. Finally, FMR LLC lifted its stake in Corcept Therapeutics by 36.2% in the first quarter. FMR LLC now owns 764,795 shares of the biotechnology company’s stock worth $8,979,000 after acquiring an additional 203,200 shares during the period. Hedge funds and other institutional investors own 75.51% of the company’s stock.

About Corcept Therapeutics (NASDAQ:CORT)

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.

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