BidaskClub Lowers Corcept Therapeutics Incorporated (CORT) to Hold

BidaskClub downgraded shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) from a buy rating to a hold rating in a research note published on Thursday morning.

Several other research analysts also recently weighed in on CORT. TheStreet raised Corcept Therapeutics from a c+ rating to a b rating in a research note on Monday, May 22nd. 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 research note on Wednesday, March 15th. Finally, Zacks Investment Research downgraded Corcept Therapeutics from a buy rating to a hold rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Corcept Therapeutics currently has an average rating of Hold and a consensus target price of $11.75.

Shares of Corcept Therapeutics (NASDAQ:CORT) opened at 10.96 on Thursday. Corcept Therapeutics has a one year low of $4.95 and a one year high of $12.51. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 100.55 and a beta of 2.05. The firm’s 50-day moving average is $10.95 and its 200-day moving average is $9.43.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Monday, May 1st. The biotechnology company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $27.60 million during the quarter, compared to the consensus estimate of $25.53 million. Corcept Therapeutics had a return on equity of 33.97% and a net margin of 13.51%. Corcept Therapeutics’s revenue was up 71.9% on a year-over-year basis. Equities research analysts forecast that Corcept Therapeutics will post $0.26 EPS for the current year.

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In other news, CFO Gary Charles Robb purchased 5,600 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average cost of $9.75 per share, for a total transaction of $54,600.00. Following the completion of the transaction, the chief financial officer now owns 6,858 shares of the company’s stock, valued at $66,865.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.20% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of CORT. Russell Investments Group Ltd. purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $1,401,000. Teachers Advisors LLC boosted its stake in shares of Corcept Therapeutics by 45.8% in the fourth quarter. Teachers Advisors LLC now owns 184,460 shares of the biotechnology company’s stock valued at $1,339,000 after buying an additional 57,985 shares during the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $280,000. Renaissance Technologies LLC boosted its stake in shares of Corcept Therapeutics by 169.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,507,500 shares of the biotechnology company’s stock valued at $10,944,000 after buying an additional 947,500 shares during the last quarter. Finally, Oxford Asset Management boosted its stake in shares of Corcept Therapeutics by 49.2% in the fourth quarter. Oxford Asset Management now owns 367,634 shares of the biotechnology company’s stock valued at $2,669,000 after buying an additional 121,167 shares during the last quarter. Hedge funds and other institutional investors own 53.49% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics Incorporated 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 is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CORT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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