Ajo LP bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 1st quarter, Holdings Channel reports. The firm bought 62,299 shares of the biotechnology company’s stock, valued at approximately $731,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CORT. Norges Bank purchased a new position in Corcept Therapeutics during the fourth quarter valued at $9,423,000. Oregon Public Employees Retirement Fund purchased a new position in Corcept Therapeutics during the fourth quarter valued at $40,000. PNC Financial Services Group Inc. lifted its position in Corcept Therapeutics by 6,144.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 464,312 shares of the biotechnology company’s stock valued at $6,203,000 after purchasing an additional 456,876 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Corcept Therapeutics by 21.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,306,735 shares of the biotechnology company’s stock valued at $27,080,000 after purchasing an additional 403,699 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in Corcept Therapeutics by 310.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 530,783 shares of the biotechnology company’s stock valued at $7,091,000 after purchasing an additional 401,493 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $9.78, for a total transaction of $293,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.00% of the stock is owned by company insiders.
Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.03). The business had revenue of $64.80 million for the quarter, compared to the consensus estimate of $69.29 million. Corcept Therapeutics had a net margin of 29.52% and a return on equity of 28.66%. Corcept Therapeutics’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.78 EPS for the current year.
CORT has been the topic of several analyst reports. TheStreet downgraded Corcept Therapeutics from a “b” rating to a “c+” rating in a research report on Friday, May 10th. ValuEngine upgraded Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Cantor Fitzgerald set a $14.00 target price on Corcept Therapeutics and gave the company a “hold” rating in a research report on Tuesday, February 26th. BidaskClub raised Corcept Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Zacks Investment Research cut Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Corcept Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $12.50.
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About Corcept Therapeutics
Corcept Therapeutics Incorporated 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.
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