321,799 Shares in Corcept Therapeutics Incorporated (CORT) Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 3rd quarter, HoldingsChannel reports. The firm purchased 321,799 shares of the biotechnology company’s stock, valued at approximately $4,512,000.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Corcept Therapeutics during the second quarter worth approximately $318,000. Rhumbline Advisers raised its stake in shares of Corcept Therapeutics by 6.9% during the second quarter. Rhumbline Advisers now owns 183,247 shares of the biotechnology company’s stock worth $2,881,000 after purchasing an additional 11,790 shares during the last quarter. Oak Ridge Investments LLC raised its stake in shares of Corcept Therapeutics by 33.6% during the second quarter. Oak Ridge Investments LLC now owns 589,380 shares of the biotechnology company’s stock worth $9,265,000 after purchasing an additional 148,212 shares during the last quarter. Intrust Bank NA raised its stake in shares of Corcept Therapeutics by 32.0% during the second quarter. Intrust Bank NA now owns 15,286 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 3,704 shares during the last quarter. Finally, BlackRock Inc. raised its position in Corcept Therapeutics by 10.0% in the second quarter. BlackRock Inc. now owns 14,199,726 shares of the biotechnology company’s stock worth $223,220,000 after acquiring an additional 1,294,562 shares in the last quarter. Institutional investors and hedge funds own 74.62% of the company’s stock.

NASDAQ:CORT opened at $12.07 on Tuesday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 21.73 and a beta of 1.62. Corcept Therapeutics Incorporated has a 1 year low of $11.55 and a 1 year high of $25.96.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, August 9th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.04). The business had revenue of $62.31 million during the quarter, compared to analysts’ expectations of $68.49 million. Corcept Therapeutics had a return on equity of 38.53% and a net margin of 68.32%. The company’s revenue was up 75.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 0.6 EPS for the current fiscal year.

Several research analysts have issued reports on CORT shares. BidaskClub cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. B. Riley cut their price objective on Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, August 13th. Zacks Investment Research cut Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. ValuEngine cut Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Finally, Cantor Fitzgerald started coverage on Corcept Therapeutics in a research report on Thursday, August 23rd. They issued a “neutral” rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Corcept Therapeutics currently has a consensus rating of “Hold” and an average target price of $21.83.

In other news, Director G Leonard Baker, Jr. bought 179,686 shares of the stock in a transaction on Wednesday, August 15th. The shares were bought at an average price of $12.48 per share, with a total value of $2,242,481.28. Following the completion of the acquisition, the director now owns 876,838 shares of the company’s stock, valued at $10,942,938.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert S. Fishman sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $14.15, for a total value of $113,200.00. Following the completion of the sale, the insider now directly owns 8,000 shares in the company, valued at approximately $113,200. The disclosure for this sale can be found here. In the last quarter, insiders acquired 321,159 shares of company stock valued at $4,025,880 and sold 24,000 shares valued at $335,280. Corporate insiders own 15.00% of the company’s stock.

About Corcept Therapeutics

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.

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

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