Wedge Capital Management L L P NC grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,523 shares of the biotechnology company’s stock after buying an additional 4,055 shares during the period. Wedge Capital Management L L P NC’s holdings in Corcept Therapeutics were worth $619,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Resources Investment Advisors Inc. acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $35,000. Bremer Bank National Association purchased a new stake in Corcept Therapeutics in the 1st quarter valued at $50,000. Exane Derivatives purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at $55,000. Reilly Financial Advisors LLC purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at $112,000. Finally, Aperio Group LLC raised its position in Corcept Therapeutics by 22.0% in the 2nd quarter. Aperio Group LLC now owns 13,624 shares of the biotechnology company’s stock valued at $152,000 after purchasing an additional 2,460 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.
Several analysts recently commented on the stock. TheStreet downgraded shares of Corcept Therapeutics from a “b” rating to a “c+” rating in a research report on Friday, May 10th. ValuEngine upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price target for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated a “hold” rating and issued a $14.00 price target on shares of Corcept Therapeutics in a research report on Wednesday, May 1st. Finally, BidaskClub upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Corcept Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $12.33.
Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $72.26 million for the quarter, compared to analysts’ expectations of $70.87 million. Corcept Therapeutics had a return on equity of 27.97% and a net margin of 29.16%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. Analysts predict that Corcept Therapeutics Incorporated will post 0.76 earnings per share for the current fiscal year.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $9.78, for a total transaction of $293,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.50% of the stock is currently owned by corporate insiders.
Corcept Therapeutics Company Profile
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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