Royal Bank of Canada Has $264,000 Stake in Corcept Therapeutics Incorporated (CORT)

Royal Bank of Canada grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 76.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,335 shares of the biotechnology company’s stock after purchasing an additional 9,708 shares during the quarter. Royal Bank of Canada’s holdings in Corcept Therapeutics were worth $264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its stake in shares of Corcept Therapeutics by 2,942.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 9,388 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Corcept Therapeutics by 52.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after purchasing an additional 3,390 shares in the last quarter. Sand Hill Global Advisors LLC bought a new stake in shares of Corcept Therapeutics in the 2nd quarter worth $118,000. Jasper Ridge Partners L.P. bought a new stake in shares of Corcept Therapeutics in the 2nd quarter worth $118,000. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Corcept Therapeutics in the second quarter worth $127,000. Institutional investors and hedge funds own 64.71% of the company’s stock.

Corcept Therapeutics Incorporated (CORT) traded down $0.47 during trading hours on Wednesday, hitting $16.21. The company had a trading volume of 1,927,644 shares, compared to its average volume of 1,110,384. The stock has a market capitalization of $1,903.59, a P/E ratio of 57.52 and a beta of 1.89. Corcept Therapeutics Incorporated has a 12 month low of $6.70 and a 12 month high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). Corcept Therapeutics had a return on equity of 58.17% and a net margin of 27.28%. The company had revenue of $42.70 million for the quarter, compared to the consensus estimate of $41.64 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was up 96.8% compared to the same quarter last year. research analysts anticipate that Corcept Therapeutics Incorporated will post 0.47 EPS for the current 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 transaction of $527,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 19.20% of the company’s stock.

Several research firms have issued reports on CORT. Stifel Nicolaus initiated coverage on Corcept Therapeutics in a report on Thursday, August 31st. They set 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 research report on Tuesday, October 10th. Piper Jaffray Companies set a $18.00 price objective on Corcept Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, BidaskClub upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.20.

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Corcept Therapeutics Company 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).

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

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