Lazard Asset Management LLC bought a new position in Corcept Therapeutics (NASDAQ:CORT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,422 shares of the biotechnology company’s stock, valued at approximately $314,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC grew its holdings in Corcept Therapeutics by 114.4% during the second quarter. Parametric Portfolio Associates LLC now owns 91,728 shares of the biotechnology company’s stock valued at $1,082,000 after purchasing an additional 48,937 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Corcept Therapeutics by 83.5% in the second quarter. Dimensional Fund Advisors LP now owns 849,319 shares of the biotechnology company’s stock worth $10,022,000 after acquiring an additional 386,431 shares during the last quarter. Royal Bank of Canada boosted its stake in Corcept Therapeutics by 76.9% during the second quarter. Royal Bank of Canada now owns 22,335 shares of the biotechnology company’s stock worth $264,000 after buying an additional 9,708 shares in the last quarter. State Street Corp boosted its stake in Corcept Therapeutics by 26.1% during the second quarter. State Street Corp now owns 2,028,013 shares of the biotechnology company’s stock worth $23,931,000 after buying an additional 420,139 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Corcept Therapeutics by 9.7% during the second quarter. California State Teachers Retirement System now owns 161,438 shares of the biotechnology company’s stock worth $1,905,000 after buying an additional 14,300 shares in the last quarter. Institutional investors own 77.22% of the company’s stock.
Shares of Corcept Therapeutics stock traded down $0.43 on Friday, reaching $16.15. 1,480,379 shares of the company were exchanged, compared to its average volume of 2,027,577. Corcept Therapeutics has a one year low of $8.90 and a one year high of $25.96. The stock has a market cap of $1,892.40, a P/E ratio of 36.70 and a beta of 1.88.
Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Corcept Therapeutics had a net margin of 81.11% and a return on equity of 53.35%. The business had revenue of $53.30 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter last year, the company posted $0.04 EPS. The firm’s revenue was up 123.9% on a year-over-year basis. analysts forecast that Corcept Therapeutics will post 0.96 earnings per share for the current fiscal year.
In related news, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $15.67, for a total value of $125,360.00. Following the sale, the insider now directly owns 8,000 shares of the company’s stock, valued at $125,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Renee D. Gala bought 10,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was purchased at an average price of $15.51 per share, with a total value of $155,100.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $15,510. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 24,000 shares of company stock worth $407,520. 19.20% of the stock is currently owned by insiders.
A number of research analysts have issued reports on CORT shares. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Piper Jaffray set a $30.00 price objective on Corcept Therapeutics and gave the stock a “buy” rating in a report on Monday, February 5th. B. Riley started coverage on Corcept Therapeutics in a report on Thursday, March 8th. They set a “buy” rating and a $30.00 price objective for the company. Stifel Nicolaus decreased their target price on Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Finally, Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.80.
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Corcept Therapeutics Profile
Corcept Therapeutics Incorporated, a pharmaceutical company, 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.
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