BidaskClub Lowers Corcept Therapeutics (CORT) to Hold

Corcept Therapeutics (NASDAQ:CORT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

CORT has been the subject of several other research reports. Stifel Nicolaus started coverage on Corcept Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price target for the company. Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $18.00 price target on Corcept Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Corcept Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $18.20.

Corcept Therapeutics (NASDAQ:CORT) opened at $16.21 on Thursday. Corcept Therapeutics has a 52 week low of $6.70 and a 52 week high of $20.77. The stock has a market capitalization of $1,903.59, a PE ratio of 57.52 and a beta of 1.89.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $42.70 million during the quarter, compared to analysts’ expectations of $41.64 million. Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. Corcept Therapeutics’s revenue for the quarter was up 96.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. analysts expect that Corcept Therapeutics will post 0.47 earnings per share for the current fiscal year.

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.59, for a total value of $527,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of CORT. GSA Capital Partners LLP increased its position in shares of Corcept Therapeutics by 57.8% during the third quarter. GSA Capital Partners LLP now owns 151,282 shares of the biotechnology company’s stock worth $2,920,000 after purchasing an additional 55,400 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Corcept Therapeutics by 9.6% during the third quarter. California Public Employees Retirement System now owns 162,459 shares of the biotechnology company’s stock worth $3,135,000 after purchasing an additional 14,259 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $199,000. Jane Street Group LLC purchased a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $928,000. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Corcept Therapeutics by 268.4% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 105,000 shares of the biotechnology company’s stock worth $2,025,000 after purchasing an additional 76,500 shares in the last quarter. Institutional investors and hedge funds own 64.71% of the company’s stock.

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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).

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