Corcept Therapeutics Incorporated (CORT) Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 198.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,291 shares of the biotechnology company’s stock after purchasing an additional 29,451 shares during the quarter. Principal Financial Group Inc.’s holdings in Corcept Therapeutics were worth $523,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Strs Ohio lifted its stake in Corcept Therapeutics by 2.0% during the second quarter. Strs Ohio now owns 72,900 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 1,400 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Corcept Therapeutics by 5.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 56,303 shares of the biotechnology company’s stock valued at $617,000 after buying an additional 2,992 shares during the last quarter. American International Group Inc. lifted its stake 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. Legal & General Group Plc lifted its stake in Corcept Therapeutics by 31.9% in the second quarter. Legal & General Group Plc now owns 23,261 shares of the biotechnology company’s stock valued at $276,000 after buying an additional 5,623 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Corcept Therapeutics by 2,942.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 9,388 shares during the last quarter. Hedge funds and other institutional investors own 61.48% of the company’s stock.

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CORT has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on Corcept Therapeutics in a research note on Thursday, August 31st. They issued a “buy” rating and a $20.00 price objective for the company. Ladenburg Thalmann Financial Services set a $20.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a research note on Tuesday, July 18th. BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Piper Jaffray Companies set a $18.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Corcept Therapeutics has a consensus rating of “Buy” and an average price target of $16.17.

In related news, Director David L. Mahoney sold 6,091 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $12.50, for a total value of $76,137.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David L. Mahoney sold 23,006 shares of the firm’s 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. Company insiders own 19.20% of the company’s stock.

Shares of Corcept Therapeutics Incorporated (CORT) opened at 18.68 on Friday. The stock has a market cap of $2.12 billion, a PE ratio of 92.94 and a beta of 2.12. The firm has a 50-day moving average price of $17.94 and a 200-day moving average price of $13.26. Corcept Therapeutics Incorporated has a 52 week low of $6.11 and a 52 week high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $35.56 million for the quarter, compared to the consensus estimate of $31.37 million. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. The business’s revenue was up 80.3% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. On average, analysts forecast that Corcept Therapeutics Incorporated will post $0.42 earnings per share for the current fiscal year.

Corcept Therapeutics Profile

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

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