Alliancebernstein L.P. lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,680 shares of the biotechnology company’s stock after selling 54,260 shares during the period. Alliancebernstein L.P. owned about 0.31% of Corcept Therapeutics worth $3,822,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Corcept Therapeutics during the fourth quarter valued at about $1,401,000. State Street Corp raised its position in Corcept Therapeutics by 4.6% in the fourth quarter. State Street Corp now owns 1,260,066 shares of the biotechnology company’s stock valued at $9,147,000 after buying an additional 55,533 shares during the last quarter. Credit Agricole S A bought a new position in Corcept Therapeutics during the fourth quarter valued at about $643,000. Renaissance Technologies LLC raised its position in Corcept Therapeutics by 169.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,507,500 shares of the biotechnology company’s stock valued at $10,944,000 after buying an additional 947,500 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Corcept Therapeutics by 18.6% in the fourth quarter. AQR Capital Management LLC now owns 142,292 shares of the biotechnology company’s stock valued at $1,033,000 after buying an additional 22,313 shares during the period. Institutional investors own 53.49% of the company’s stock.
Shares of Corcept Therapeutics Incorporated (CORT) traded up 0.41% during midday trading on Friday, hitting $12.17. The stock had a trading volume of 572,136 shares. The company’s 50 day moving average is $11.94 and its 200 day moving average is $10.25. Corcept Therapeutics Incorporated has a 52 week low of $5.24 and a 52 week high of $13.25. The firm has a market cap of $1.38 billion, a P/E ratio of 111.65 and a beta of 2.05.
Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Corcept Therapeutics had a return on equity of 33.97% and a net margin of 13.51%. The business had revenue of $27.60 million during the quarter, compared to analyst estimates of $25.53 million. The company’s revenue was up 71.9% compared to the same quarter last year. On average, equities analysts predict that Corcept Therapeutics Incorporated will post $0.26 earnings per share for the current fiscal year.
Several research firms have recently weighed in on CORT. BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, July 19th. Ladenburg Thalmann Financial Services set a $20.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a report on Tuesday, July 18th. TheStreet upgraded Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Monday, May 22nd. Finally, Piper Jaffray Companies set a $18.00 target price on Corcept Therapeutics and gave the company a “buy” rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $14.20.
In other Corcept Therapeutics news, Director David L. Mahoney sold 6,994 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $12.50, for a total value of $87,425.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Mahoney sold 23,006 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total value of $287,575.00. The disclosure for this sale can be found here. Insiders sold a total of 42,601 shares of company stock valued at $532,513 in the last quarter. 19.20% of the stock is currently owned by company insiders.
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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