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.
TRADEMARK VIOLATION NOTICE: “Penserra Capital Management LLC Takes $417,000 Position in Corcept Therapeutics Incorporated (CORT)” was originally reported by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.com-unik.info/2017/11/01/penserra-capital-management-llc-takes-417000-position-in-corcept-therapeutics-incorporated-cort.html.
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).
Want to see what other hedge funds are holding CORT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corcept Therapeutics Incorporated (NASDAQ:CORT).
What are top analysts saying about Corcept Therapeutics Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Corcept Therapeutics Incorporated and related companies.