Strs Ohio Acquires Shares of 32,400 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Strs Ohio acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 32,400 shares of the biotechnology company’s stock, valued at approximately $830,000.

A number of other institutional investors have also added to or reduced their stakes in CORT. JPMorgan Chase & Co. grew its holdings in Corcept Therapeutics by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 216,081 shares of the biotechnology company’s stock valued at $4,866,000 after buying an additional 5,036 shares in the last quarter. American Century Companies Inc. grew its holdings in Corcept Therapeutics by 8.2% during the 1st quarter. American Century Companies Inc. now owns 88,553 shares of the biotechnology company’s stock valued at $1,994,000 after buying an additional 6,684 shares in the last quarter. Citigroup Inc. grew its holdings in Corcept Therapeutics by 15.0% during the 1st quarter. Citigroup Inc. now owns 103,241 shares of the biotechnology company’s stock valued at $2,325,000 after buying an additional 13,488 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Corcept Therapeutics by 56.7% during the 1st quarter. Natixis Advisors L.P. now owns 18,581 shares of the biotechnology company’s stock valued at $418,000 after buying an additional 6,726 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Corcept Therapeutics by 3.3% during the 1st quarter. Acadian Asset Management LLC now owns 31,845 shares of the biotechnology company’s stock valued at $716,000 after buying an additional 1,032 shares in the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Gary Charles Robb sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $26.06, for a total value of $260,600.00. Following the completion of the sale, the insider now directly owns 39,544 shares in the company, valued at $1,030,516.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Gary Charles Robb sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $26.06, for a total value of $260,600.00. Following the completion of the sale, the insider now directly owns 39,544 shares in the company, valued at $1,030,516.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total value of $639,250.00. Following the completion of the sale, the insider now owns 56,462 shares of the company’s stock, valued at $1,443,733.34. The disclosure for this sale can be found here. Insiders sold a total of 40,439 shares of company stock worth $1,040,958 over the last three months. 18.60% of the stock is owned by insiders.

Analysts Set New Price Targets

CORT has been the subject of a number of recent research reports. HC Wainwright cut their target price on shares of Corcept Therapeutics from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, December 9th. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 27th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and a consensus target price of $31.25.

Corcept Therapeutics Stock Performance

CORT stock opened at $22.44 on Monday. The firm has a market cap of $2.42 billion, a PE ratio of 22.44 and a beta of 0.59. The firm has a fifty day moving average price of $22.87 and a 200 day moving average price of $25.51. Corcept Therapeutics Incorporated has a fifty-two week low of $16.47 and a fifty-two week high of $30.14.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $101.73 million during the quarter, compared to the consensus estimate of $107.73 million. Corcept Therapeutics had a return on equity of 27.49% and a net margin of 29.37%. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 0.89 EPS for the current year.

Corcept Therapeutics Company Profile

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Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric 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.