Corcept Therapeutics (NASDAQ:CORT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, December 20th.
Several other analysts also recently weighed in on the company. Piper Jaffray Companies set a $30.00 price target on Corcept Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Stifel Nicolaus initiated coverage on Corcept Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.00.
Corcept Therapeutics (CORT) traded down $0.20 on Wednesday, reaching $20.65. The company’s stock had a trading volume of 1,320,000 shares, compared to its average volume of 2,180,000. Corcept Therapeutics has a fifty-two week low of $6.70 and a fifty-two week high of $21.00. The company has a market cap of $2,360.00, a price-to-earnings ratio of 71.21 and a beta of 1.89.
Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $41.64 million. Corcept Therapeutics had a return on equity of 58.17% and a net margin of 27.28%. The firm’s revenue was up 96.8% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS. research analysts expect that Corcept Therapeutics will post 0.47 EPS for the current year.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $17.59, for a total transaction of $527,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $18.67, for a total value of $149,360.00. Following the sale, the insider now directly owns 8,000 shares in the company, valued at $149,360. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock worth $810,820 over the last three months. Insiders own 19.20% of the company’s stock.
A number of large investors have recently bought and sold shares of CORT. Marshall Wace North America L.P. bought a new stake in Corcept Therapeutics during the second quarter valued at about $13,942,000. Renaissance Technologies LLC grew its position in shares of Corcept Therapeutics by 44.4% during the second quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock valued at $31,664,000 after purchasing an additional 824,900 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Corcept Therapeutics by 18.4% during the second quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock valued at $52,394,000 after purchasing an additional 689,554 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Corcept Therapeutics by 316.9% during the second quarter. Teachers Advisors LLC now owns 817,245 shares of the biotechnology company’s stock valued at $9,643,000 after purchasing an additional 621,219 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Corcept Therapeutics by 644.4% during the third quarter. Wells Fargo & Company MN now owns 715,261 shares of the biotechnology company’s stock valued at $13,805,000 after purchasing an additional 619,180 shares in the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.
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About Corcept Therapeutics
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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