Corcept Therapeutics (NASDAQ:CORT) Stock Price Down 7%

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Corcept Therapeutics Incorporated (NASDAQ:CORT) traded down 7% on Friday . The company traded as low as $14.86 and last traded at $14.95, 1,741,890 shares changed hands during mid-day trading. An increase of 72% from the average session volume of 1,015,067 shares. The stock had previously closed at $16.08.

A number of analysts recently weighed in on the company. TheStreet upgraded Corcept Therapeutics from a “c+” rating to a “b-” rating in a report on Tuesday, May 19th. BidaskClub downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. ValuEngine downgraded Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd. Finally, Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.25.

The stock has a fifty day simple moving average of $16.35 and a two-hundred day simple moving average of $13.76. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 16.99 and a beta of 1.15.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, May 4th. The biotechnology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Corcept Therapeutics had a return on equity of 30.00% and a net margin of 31.64%. The firm had revenue of $93.25 million during the quarter, compared to the consensus estimate of $87.01 million. During the same period last year, the business posted $0.20 EPS. The business’s revenue was up 43.8% compared to the same quarter last year. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.84 earnings per share for the current year.

In other news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.70, for a total value of $471,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $16.10, for a total value of $80,500.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $80,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $633,900. Company insiders own 16.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Guggenheim Capital LLC grew its stake in shares of Corcept Therapeutics by 4.8% in the 4th quarter. Guggenheim Capital LLC now owns 17,319 shares of the biotechnology company’s stock valued at $210,000 after buying an additional 786 shares during the period. Mutual of America Capital Management LLC lifted its position in Corcept Therapeutics by 22.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,539 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 839 shares in the last quarter. Legal & General Group Plc lifted its position in Corcept Therapeutics by 0.3% in the 1st quarter. Legal & General Group Plc now owns 296,437 shares of the biotechnology company’s stock valued at $3,525,000 after acquiring an additional 954 shares in the last quarter. Pacer Advisors Inc. lifted its position in Corcept Therapeutics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 16,125 shares of the biotechnology company’s stock valued at $271,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its position in Corcept Therapeutics by 3.1% in the 4th quarter. Mason Street Advisors LLC now owns 35,824 shares of the biotechnology company’s stock valued at $433,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors own 76.09% of the company’s stock.

About Corcept Therapeutics (NASDAQ:CORT)

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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