AJ Wealth Strategies LLC raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 113.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,103 shares of the biotechnology company’s stock after acquiring an additional 234,483 shares during the quarter. Corcept Therapeutics comprises approximately 1.4% of AJ Wealth Strategies LLC’s portfolio, making the stock its 14th biggest holding. AJ Wealth Strategies LLC owned approximately 0.38% of Corcept Therapeutics worth $6,934,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CORT. BlackRock Inc. grew its position in shares of Corcept Therapeutics by 13.2% during the 1st quarter. BlackRock Inc. now owns 12,905,164 shares of the biotechnology company’s stock valued at $212,288,000 after purchasing an additional 1,505,877 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Corcept Therapeutics by 0.5% during the 1st quarter. Federated Investors Inc. PA now owns 12,686,727 shares of the biotechnology company’s stock valued at $208,697,000 after purchasing an additional 62,715 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Corcept Therapeutics by 24.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,576,649 shares of the biotechnology company’s stock valued at $25,936,000 after purchasing an additional 306,691 shares in the last quarter. Northern Trust Corp grew its position in shares of Corcept Therapeutics by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,116,603 shares of the biotechnology company’s stock valued at $18,368,000 after purchasing an additional 5,342 shares in the last quarter. Finally, Nexthera Capital LP purchased a new position in shares of Corcept Therapeutics during the 1st quarter valued at $17,193,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Get Corcept Therapeutics alerts:Corcept Therapeutics traded down $0.39, hitting $13.22, during midday trading on Thursday, Marketbeat Ratings reports. The company had a trading volume of 2,865,100 shares, compared to its average volume of 1,574,573. Corcept Therapeutics Incorporated has a 52-week low of $11.88 and a 52-week high of $25.96. The firm has a market capitalization of $1.60 billion, a PE ratio of 30.07 and a beta of 1.93.
Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, May 8th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Corcept Therapeutics had a net margin of 75.05% and a return on equity of 46.78%. The company had revenue of $57.66 million during the quarter, compared to analyst estimates of $58.18 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 108.9% compared to the same quarter last year. equities analysts predict that Corcept Therapeutics Incorporated will post 0.73 earnings per share for the current fiscal year.
In related news, Director G Leonard Baker, Jr. sold 30,000 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $16.01, for a total value of $480,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert S. Fishman sold 8,000 shares of the company’s stock in a transaction on Friday, July 6th. The stock was sold at an average price of $15.09, for a total transaction of $120,720.00. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at $120,720. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock valued at $888,300 over the last quarter. 15.00% of the stock is owned by company insiders.
A number of research analysts have recently commented on CORT shares. Stifel Nicolaus lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research report on Thursday, May 31st. Seaport Global Securities assumed coverage on shares of Corcept Therapeutics in a research report on Friday, April 13th. They set a “buy” rating and a $32.00 price target for the company. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Friday, April 27th. BidaskClub upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, April 20th. Finally, ValuEngine upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $26.20.
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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