Corcept Therapeutics (CORT) Stock Price Up 5%

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) rose 5% during mid-day trading on Wednesday . The company traded as high as $19.15 and last traded at $18.79. Approximately 14,181,100 shares traded hands during trading, an increase of 1,087% from the average daily volume of 1,194,304 shares. The stock had previously closed at $17.89.

CORT has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on shares of Corcept Therapeutics in a research note on Thursday, August 31st. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $24.00 target price on shares of Corcept Therapeutics in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $21.00.

The firm has a market cap of $2,080.00, a P/E ratio of 62.62 and a beta of 1.89.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Corcept Therapeutics had a return on equity of 72.39% and a net margin of 32.17%. The business had revenue of $42.70 million during the quarter, compared to analyst estimates of $41.64 million. During the same quarter last year, the firm earned $0.02 EPS. Corcept Therapeutics’s revenue for the quarter was up 96.8% compared to the same quarter last year. analysts predict that Corcept Therapeutics Incorporated will post 0.47 EPS for the current year.

In other Corcept Therapeutics news, insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $16.72, for a total value of $133,760.00. Following the completion of the sale, the insider now owns 8,000 shares in the company, valued at approximately $133,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics 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 disclosure for this sale can be found here. 19.20% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of CORT. Victory Capital Management Inc. acquired a new stake in Corcept Therapeutics in the 3rd quarter worth about $108,000. BNP Paribas Arbitrage SA raised its position in shares of Corcept Therapeutics by 2,942.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 9,388 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Corcept Therapeutics by 52.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 3,390 shares in the last quarter. Sand Hill Global Advisors LLC acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $118,000. Finally, Jasper Ridge Partners L.P. acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $118,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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Corcept Therapeutics Company 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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