Corcept Therapeutics Incorporated (CORT) Position Reduced by Allianz Asset Management AG

Allianz Asset Management AG lowered its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 11.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 139,113 shares of the company’s stock after selling 18,167 shares during the period. Allianz Asset Management AG’s holdings in Corcept Therapeutics were worth $1,010,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC increased its stake in shares of Corcept Therapeutics by 35.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 21,446 shares of the company’s stock valued at $139,000 after buying an additional 5,652 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Corcept Therapeutics by 67.5% in the third quarter. Alambic Investment Management L.P. now owns 28,300 shares of the company’s stock valued at $184,000 after buying an additional 11,400 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $217,000. Two Sigma Securities LLC bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $223,000. Finally, Zacks Investment Management bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $310,000. 43.57% of the stock is owned by institutional investors and hedge funds.

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

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) opened at 10.39 on Tuesday. Corcept Therapeutics Incorporated has a one year low of $4.01 and a one year high of $11.40. The stock has a market capitalization of $1.17 billion, a P/E ratio of 148.43 and a beta of 1.72. The stock’s 50 day moving average price is $8.77 and its 200 day moving average price is $7.74.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Monday, March 6th. The company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Corcept Therapeutics had a return on equity of 28.11% and a net margin of 6.21%. On average, analysts forecast that Corcept Therapeutics Incorporated will post $0.26 EPS for the current year.

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Several brokerages have recently commented on CORT. Ladenburg Thalmann Financial Services began coverage on Corcept Therapeutics in a report on Thursday, February 2nd. They set a “buy” rating and a $14.00 target price for the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $18.00 target price (up from $12.00) on shares of Corcept Therapeutics in a report on Wednesday, March 15th. Janney Montgomery Scott began coverage on Corcept Therapeutics in a report on Tuesday, December 20th. They set a “sell” rating and a $7.00 target price for the company. Zacks Investment Research downgraded Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, February 2nd. Finally, TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Friday, March 10th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.75.

In other Corcept Therapeutics news, Director Patrick G. Enright sold 750,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $9.75, for a total transaction of $7,312,500.00. Following the transaction, the director now directly owns 204,210 shares in the company, valued at $1,991,047.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick G. Enright sold 600,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $10.15, for a total value of $6,090,000.00. Following the transaction, the director now owns 204,210 shares in the company, valued at $2,072,731.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,119,955 shares of company stock worth $38,110,853. Corporate insiders own 33.30% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Inc 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’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.

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Want to see what other hedge funds are holding CORT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corcept Therapeutics Incorporated (NASDAQ:CORT).

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