Parallel Advisors LLC Buys Shares of 2,600 Corcept Therapeutics Incorporated (NASDAQ:CORT)

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Parallel Advisors LLC bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,600 shares of the biotechnology company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Resources Investment Advisors Inc. acquired a new position in shares of Corcept Therapeutics during the first quarter valued at about $35,000. Bremer Bank National Association bought a new stake in shares of Corcept Therapeutics in the first quarter worth approximately $50,000. Exane Derivatives bought a new stake in shares of Corcept Therapeutics in the second quarter worth approximately $55,000. Reilly Financial Advisors LLC bought a new stake in shares of Corcept Therapeutics in the second quarter worth approximately $112,000. Finally, Aperio Group LLC grew its stake in shares of Corcept Therapeutics by 22.0% in the second quarter. Aperio Group LLC now owns 13,624 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 2,460 shares during the period. Hedge funds and other institutional investors own 76.94% of the company’s stock.

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $9.78, for a total transaction of $293,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.50% of the stock is owned by company insiders.

NASDAQ:CORT traded down $0.06 during trading hours on Wednesday, hitting $12.27. The company’s stock had a trading volume of 4,205 shares, compared to its average volume of 825,442. The business’s 50-day moving average is $11.83 and its two-hundred day moving average is $11.47. The company has a market capitalization of $1.39 billion, a PE ratio of 20.45 and a beta of 1.47. Corcept Therapeutics Incorporated has a 52-week low of $9.14 and a 52-week high of $19.48.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, August 1st. The biotechnology company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Corcept Therapeutics had a return on equity of 27.97% and a net margin of 29.16%. The business had revenue of $72.26 million for the quarter, compared to analysts’ expectations of $70.87 million. During the same quarter last year, the company posted $0.20 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, research analysts anticipate that Corcept Therapeutics Incorporated will post 0.76 EPS for the current fiscal year.

CORT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $14.00 price target on shares of Corcept Therapeutics in a report on Wednesday, May 1st. ValuEngine raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, TheStreet raised Corcept Therapeutics from a “c+” rating to a “b” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Corcept Therapeutics currently has an average rating of “Hold” and a consensus target price of $12.33.

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

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