Sei Investments Co. Boosts Stake in Corcept Therapeutics Incorporated (CORT)

Sei Investments Co. boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 344.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,562 shares of the biotechnology company’s stock after buying an additional 13,614 shares during the quarter. Sei Investments Co.’s holdings in Corcept Therapeutics were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CORT. Teachers Advisors LLC raised its holdings in Corcept Therapeutics by 6.3% in the 1st 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. Dimensional Fund Advisors LP raised its holdings in Corcept Therapeutics by 345.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 462,888 shares of the biotechnology company’s stock valued at $5,074,000 after buying an additional 358,885 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Corcept Therapeutics by 6.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 339,982 shares of the biotechnology company’s stock valued at $3,727,000 after buying an additional 19,527 shares during the last quarter. Bank of America Corp DE raised its holdings in Corcept Therapeutics by 57.7% in the 1st quarter. Bank of America Corp DE now owns 58,403 shares of the biotechnology company’s stock valued at $640,000 after buying an additional 21,368 shares during the last quarter. Finally, State Street Corp raised its holdings in Corcept Therapeutics by 27.6% in the 1st quarter. State Street Corp now owns 1,607,874 shares of the biotechnology company’s stock valued at $17,623,000 after buying an additional 347,808 shares during the last quarter. Institutional investors and hedge funds own 64.71% of the company’s stock.

CORT has been the subject of a number of research reports. Piper Jaffray Companies raised their price objective on shares of Corcept Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 8th. Stifel Nicolaus initiated coverage on shares of Corcept Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price objective for the company. BidaskClub upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.20.

In other Corcept Therapeutics news, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $16.72, for a total transaction of $133,760.00. Following the completion of the transaction, the insider now owns 8,000 shares in the company, valued at approximately $133,760. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’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 disclosure for this sale can be found here. 19.20% of the stock is currently owned by company insiders.

Corcept Therapeutics Incorporated (NASDAQ CORT) opened at $17.28 on Thursday. Corcept Therapeutics Incorporated has a fifty-two week low of $6.70 and a fifty-two week high of $20.77. The stock has a market cap of $1,970.00, a P/E ratio of 58.72 and a beta of 1.89.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $42.70 million for the quarter, compared to the consensus estimate of $41.64 million. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s revenue for the quarter was up 96.8% compared to the same quarter last year. equities analysts forecast that Corcept Therapeutics Incorporated will post 0.47 earnings per share for the current year.

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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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