Geode Capital Management LLC Boosts Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Geode Capital Management LLC raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 840,195 shares of the biotechnology company’s stock after buying an additional 77,945 shares during the period. Geode Capital Management LLC owned 0.74% of Corcept Therapeutics worth $9,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Chicago Equity Partners LLC raised its position in Corcept Therapeutics by 5.2% in the first quarter. Chicago Equity Partners LLC now owns 54,435 shares of the biotechnology company’s stock valued at $597,000 after buying an additional 2,680 shares during the last quarter. American International Group Inc. raised its position in Corcept Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 46,000 shares of the biotechnology company’s stock valued at $504,000 after buying an additional 3,042 shares during the last quarter. Teachers Advisors LLC raised its position in Corcept Therapeutics by 6.3% in the first quarter. Teachers Advisors LLC now owns 196,026 shares of the biotechnology company’s stock valued at $2,148,000 after buying an additional 11,566 shares during the last quarter. SG Americas Securities LLC raised its position in Corcept Therapeutics by 79.6% in the first quarter. SG Americas Securities LLC now owns 37,533 shares of the biotechnology company’s stock valued at $411,000 after buying an additional 16,632 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $198,000. Hedge funds and other institutional investors own 54.17% of the company’s stock.

Shares of Corcept Therapeutics Incorporated (NASDAQ CORT) traded down 2.418% during mid-day trading on Thursday, reaching $13.925. 130,535 shares of the company’s stock traded hands. Corcept Therapeutics Incorporated has a 1-year low of $5.24 and a 1-year high of $15.26. The firm has a 50-day moving average price of $12.59 and a 200-day moving average price of $10.59. The company has a market capitalization of $1.58 billion, a P/E ratio of 69.279 and a beta of 2.06.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. The firm had revenue of $35.56 million during the quarter, compared to analyst estimates of $31.37 million. During the same period in the previous year, the company earned $0.01 EPS. The company’s revenue for the quarter was up 80.3% on a year-over-year basis. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post $0.43 earnings per share for the current fiscal year.

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CORT has been the subject of several recent research reports. Zacks Investment Research raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, July 19th. Piper Jaffray Companies set a $18.00 price objective on shares of Corcept Therapeutics and gave the company a “buy” rating in a research report on Monday, May 15th. Ladenburg Thalmann Financial Services set a $20.00 price objective on shares of Corcept Therapeutics and gave the company a “buy” rating in a research report on Tuesday, July 18th. BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, TheStreet downgraded shares of Corcept Therapeutics from a “b-” rating to a “c+” rating in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.20.

In other Corcept Therapeutics news, Director David L. Mahoney sold 6,510 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total value of $81,375.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David L. Mahoney sold 23,006 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total value of $287,575.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,601 shares of company stock worth $532,513. Company insiders own 19.20% of the company’s stock.

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).

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

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