Corcept Therapeutics (CORT) Upgraded at BidaskClub

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BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a sell rating to a hold rating in a research report report published on Monday morning.

Several other research analysts also recently issued reports on the company. Zacks Investment Research raised Corcept Therapeutics from a hold rating to a buy rating and set a $17.00 price target for the company in a research note on Thursday, January 17th. ValuEngine raised Corcept Therapeutics from a hold rating to a buy rating in a research note on Tuesday, December 11th. B. Riley set a $11.00 price target on Corcept Therapeutics and gave the stock a hold rating in a research note on Tuesday, February 5th. Finally, Cantor Fitzgerald set a $17.00 price target on Corcept Therapeutics and gave the stock a hold rating in a research note on Monday, November 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $17.00.

NASDAQ:CORT opened at $11.38 on Monday. Corcept Therapeutics has a 1-year low of $9.14 and a 1-year high of $20.00. The firm has a market capitalization of $1.31 billion, a P/E ratio of 25.86 and a beta of 1.19.

In related news, Director G Leonard Baker, Jr. acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was purchased at an average price of $12.73 per share, for a total transaction of $1,273,000.00. Following the transaction, the director now owns 966,838 shares in the company, valued at approximately $12,307,847.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 60,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $19.01, for a total value of $1,140,600.00. Following the sale, the insider now owns 65,015 shares of the company’s stock, valued at approximately $1,235,935.15. The disclosure for this sale can be found here. Insiders have sold a total of 302,115 shares of company stock valued at $5,743,206 in the last ninety days. Corporate insiders own 15.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates grew its stake in Corcept Therapeutics by 20.1% during the second quarter. Raymond James & Associates now owns 49,670 shares of the biotechnology company’s stock valued at $781,000 after acquiring an additional 8,302 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Corcept Therapeutics by 11.0% in the 2nd quarter. California Public Employees Retirement System now owns 156,958 shares of the biotechnology company’s stock worth $2,467,000 after buying an additional 15,541 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Corcept Therapeutics by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,197,952 shares of the biotechnology company’s stock worth $18,831,000 after buying an additional 11,001 shares in the last quarter. Northern Trust Corp grew its stake in shares of Corcept Therapeutics by 11.7% in the 2nd quarter. Northern Trust Corp now owns 1,247,442 shares of the biotechnology company’s stock worth $19,610,000 after buying an additional 130,839 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Corcept Therapeutics in the 3rd quarter worth $211,000. Institutional investors own 77.63% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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