Quantbot Technologies LP raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 60.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,816 shares of the biotechnology company’s stock after acquiring an additional 8,568 shares during the period. Quantbot Technologies LP’s holdings in Corcept Therapeutics were worth $440,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Suntrust Banks Inc. raised its position in shares of Corcept Therapeutics by 4.0% during the 2nd quarter. Suntrust Banks Inc. now owns 12,308 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 471 shares during the last quarter. Strs Ohio raised its position in shares of Corcept Therapeutics by 2.0% during the 2nd quarter. Strs Ohio now owns 72,900 shares of the biotechnology company’s stock valued at $860,000 after acquiring an additional 1,400 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Corcept Therapeutics by 0.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 347,171 shares of the biotechnology company’s stock valued at $4,097,000 after acquiring an additional 2,360 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Corcept Therapeutics by 5.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 56,303 shares of the biotechnology company’s stock valued at $617,000 after acquiring an additional 2,992 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Corcept Therapeutics by 52.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 3,390 shares during the last quarter. Institutional investors own 63.33% of the company’s stock.
A number of analysts recently commented on CORT shares. Stifel Nicolaus started coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and issued a $24.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, October 11th. Finally, BidaskClub cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Corcept Therapeutics currently has an average rating of “Buy” and an average target price of $18.20.
Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) opened at $17.58 on Monday. Corcept Therapeutics Incorporated has a 1 year low of $6.70 and a 1 year high of $20.77. The company has a market cap of $2,010.00, a price-to-earnings ratio of 60.62 and a beta of 2.04.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. The firm had revenue of $42.70 million during the quarter, compared to the consensus estimate of $41.64 million. During the same quarter in the prior year, the company earned $0.02 EPS. Corcept Therapeutics’s quarterly revenue was up 96.8% on a year-over-year basis. equities analysts forecast that Corcept Therapeutics Incorporated will post 0.47 earnings per share for the current year.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.20% of the stock is owned by corporate insiders.
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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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