Amalgamated Bank Purchases New Stake in Corcept Therapeutics Incorporated (CORT)

Amalgamated Bank purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 15,894 shares of the biotechnology company’s stock, valued at approximately $212,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System increased its position in Corcept Therapeutics by 1.3% during the fourth quarter. New York State Teachers Retirement System now owns 65,094 shares of the biotechnology company’s stock worth $870,000 after buying an additional 867 shares in the last quarter. State of Alaska Department of Revenue increased its position in Corcept Therapeutics by 2.8% during the fourth quarter. State of Alaska Department of Revenue now owns 35,137 shares of the biotechnology company’s stock worth $469,000 after buying an additional 943 shares in the last quarter. NumerixS Investment Technologies Inc increased its position in Corcept Therapeutics by 9.2% during the fourth quarter. NumerixS Investment Technologies Inc now owns 13,208 shares of the biotechnology company’s stock worth $172,000 after buying an additional 1,108 shares in the last quarter. Bank of Montreal Can increased its position in Corcept Therapeutics by 33.1% during the fourth quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock worth $64,000 after buying an additional 1,202 shares in the last quarter. Finally, Flinton Capital Management LLC increased its position in Corcept Therapeutics by 8.7% during the fourth quarter. Flinton Capital Management LLC now owns 15,764 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,260 shares in the last quarter. 79.31% of the stock is owned by institutional investors.

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were acquired at an average price of $11.39 per share, for a total transaction of $1,139,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.00% of the stock is owned by company insiders.

Several research firms have weighed in on CORT. BidaskClub downgraded Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. 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 Friday, April 5th. ValuEngine upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Cantor Fitzgerald set a $14.00 price objective on Corcept Therapeutics and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, B. Riley set a $11.00 price objective on Corcept Therapeutics and gave the stock a “hold” rating in a report on Tuesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Corcept Therapeutics currently has an average rating of “Hold” and an average price target of $12.50.

CORT stock opened at $11.78 on Wednesday. Corcept Therapeutics Incorporated has a 52-week low of $9.14 and a 52-week high of $20.00. The firm has a market cap of $1.37 billion, a PE ratio of 19.63 and a beta of 1.27.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, February 25th. The biotechnology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. Corcept Therapeutics had a return on equity of 30.30% and a net margin of 29.97%. The business had revenue of $66.80 million for the quarter, compared to analysts’ expectations of $70.43 million. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. Research analysts expect that Corcept Therapeutics Incorporated will post 0.83 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2019/04/17/amalgamated-bank-purchases-new-stake-in-corcept-therapeutics-incorporated-cort.html.

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.

Recommended Story: What is range trading?

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).

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

Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit