Penserra Capital Management LLC Takes $417,000 Position in Corcept Therapeutics Incorporated (CORT)

Penserra Capital Management LLC acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 21,624 shares of the biotechnology company’s stock, valued at approximately $417,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Corcept Therapeutics by 111.2% in the 2nd quarter. Bank of Montreal Can now owns 34,931 shares of the biotechnology company’s stock valued at $413,000 after buying an additional 18,389 shares during the last quarter. Birchview Capital LP increased its stake in shares of Corcept Therapeutics by 58.3% during the 2nd quarter. Birchview Capital LP now owns 95,000 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 35,000 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Corcept Therapeutics by 21.5% during the 2nd quarter. Rhumbline Advisers now owns 87,672 shares of the biotechnology company’s stock worth $1,035,000 after purchasing an additional 15,494 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Corcept Therapeutics by 3,409.5% during the 2nd quarter. Prudential Financial Inc. now owns 633,223 shares of the biotechnology company’s stock worth $7,472,000 after purchasing an additional 615,180 shares during the last quarter. Finally, Timpani Capital Management LLC acquired a new position in shares of Corcept Therapeutics during the 2nd quarter worth about $1,484,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Corcept Therapeutics Incorporated (NASDAQ CORT) opened at 19.69 on Wednesday. The firm has a 50-day moving average of $18.81 and a 200-day moving average of $14.02. The company has a market cap of $2.23 billion, a P/E ratio of 97.96 and a beta of 2.12. Corcept Therapeutics Incorporated has a 12-month low of $6.68 and a 12-month high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $35.56 million during the quarter, compared to the consensus estimate of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The company’s revenue was up 80.3% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. Analysts predict that Corcept Therapeutics Incorporated will post $0.43 EPS for the current year.

Several research firms have recently weighed in on CORT. Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies set a $18.00 price objective on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Thursday, August 24th. BidaskClub lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Finally, Stifel Nicolaus began coverage on shares of Corcept Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.17.

Corcept Therapeutics Profile

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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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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