Corcept Therapeutics (NASDAQ:CORT) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a buy rating to a hold rating in a report published on Wednesday morning, ValuEngine reports.

A number of other research analysts have also recently weighed in on CORT. Zacks Investment Research upgraded shares of Corcept Therapeutics from a sell rating to a hold rating and set a $12.00 price objective for the company in a report on Wednesday, July 31st. BidaskClub upgraded shares of Corcept Therapeutics from a hold rating to a buy rating in a report on Wednesday, August 7th. TheStreet upgraded shares of Corcept Therapeutics from a c+ rating to a b rating in a report on Friday, August 16th. Jefferies Financial Group initiated coverage on shares of Corcept Therapeutics in a report on Tuesday, September 24th. They issued a buy rating and a $20.00 price objective for the company. Finally, HC Wainwright initiated coverage on shares of Corcept Therapeutics in a report on Friday, September 6th. They issued a buy rating and a $18.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $15.00.

Shares of Corcept Therapeutics stock traded up $0.09 on Wednesday, reaching $14.19. The company had a trading volume of 339,749 shares, compared to its average volume of 965,681. The firm’s 50 day moving average price is $13.27 and its two-hundred day moving average price is $11.75. The firm has a market cap of $1.59 billion, a PE ratio of 23.65 and a beta of 1.39. Corcept Therapeutics has a 52-week low of $9.14 and a 52-week high of $19.48.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $72.26 million during the quarter, compared to analysts’ expectations of $70.87 million. Corcept Therapeutics had a net margin of 29.16% and a return on equity of 27.97%. Corcept Therapeutics’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. Analysts anticipate that Corcept Therapeutics will post 0.75 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of Corcept Therapeutics by 0.7% in the second quarter. Arizona State Retirement System now owns 162,135 shares of the biotechnology company’s stock valued at $1,808,000 after purchasing an additional 1,087 shares in the last quarter. AMI Asset Management Corp grew its holdings in Corcept Therapeutics by 25.1% during the 2nd quarter. AMI Asset Management Corp now owns 904,120 shares of the biotechnology company’s stock worth $10,081,000 after acquiring an additional 181,188 shares in the last quarter. LSV Asset Management grew its holdings in Corcept Therapeutics by 391.7% during the 2nd quarter. LSV Asset Management now owns 555,100 shares of the biotechnology company’s stock worth $6,189,000 after acquiring an additional 442,200 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in Corcept Therapeutics by 1.8% during the 2nd quarter. Ingalls & Snyder LLC now owns 8,521,799 shares of the biotechnology company’s stock worth $95,018,000 after acquiring an additional 149,798 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in Corcept Therapeutics during the 2nd quarter worth approximately $180,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

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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