Corcept Therapeutics Incorporated (CORT) Holdings Trimmed by Sei Investments Co.

Sei Investments Co. lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 27.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,279 shares of the biotechnology company’s stock after selling 5,271 shares during the quarter. Sei Investments Co.’s holdings in Corcept Therapeutics were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in Corcept Therapeutics by 2.0% during the 1st quarter. Rhumbline Advisers now owns 171,457 shares of the biotechnology company’s stock valued at $2,820,000 after buying an additional 3,400 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Corcept Therapeutics by 0.8% during the 1st quarter. Wells Fargo & Company MN now owns 524,900 shares of the biotechnology company’s stock valued at $8,635,000 after buying an additional 4,023 shares in the last quarter. Swiss National Bank grew its holdings in Corcept Therapeutics by 3.2% during the 4th quarter. Swiss National Bank now owns 143,200 shares of the biotechnology company’s stock valued at $2,586,000 after buying an additional 4,500 shares in the last quarter. Schroder Investment Management Group grew its holdings in Corcept Therapeutics by 20.6% during the 4th quarter. Schroder Investment Management Group now owns 27,488 shares of the biotechnology company’s stock valued at $496,000 after buying an additional 4,688 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Corcept Therapeutics by 4.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 122,753 shares of the biotechnology company’s stock valued at $2,018,000 after buying an additional 4,699 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

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A number of research analysts have weighed in on the company. Stifel Nicolaus lowered Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Thursday, May 31st. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, May 19th. ValuEngine raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Zacks Investment Research raised Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Friday, April 27th. Finally, Seaport Global Securities assumed coverage on Corcept Therapeutics in a report on Friday, April 13th. They set a “buy” rating and a $32.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $25.17.

In related news, insider Robert S. Fishman sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $17.68, for a total value of $141,440.00. Following the completion of the sale, the insider now owns 8,000 shares in the company, valued at approximately $141,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Leonard Baker, Jr. sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $16.01, for a total value of $480,300.00. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $767,580 in the last three months. 15.00% of the stock is owned by insiders.

Shares of NASDAQ CORT opened at $15.21 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $11.83 and a 12 month high of $25.96. The stock has a market cap of $1.69 billion, a PE ratio of 28.27 and a beta of 1.93.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Corcept Therapeutics had a return on equity of 46.78% and a net margin of 75.05%. The company had revenue of $57.66 million during the quarter, compared to analyst estimates of $58.18 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Corcept Therapeutics’s revenue was up 108.9% on a year-over-year basis. research analysts forecast that Corcept Therapeutics Incorporated will post 0.73 EPS for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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