Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) gapped up prior to trading on Friday . The stock had previously closed at $17.73, but opened at $17.51. Corcept Therapeutics shares last traded at $17.78, with a volume of 1157855 shares trading hands.

Several research firms recently issued reports on CORT. Zacks Investment Research downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and issued a $24.00 price target on shares of Corcept Therapeutics in a research report on Wednesday, October 11th. BidaskClub downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus began coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $21.00.

The firm has a market cap of $2,090.00, a P/E ratio of 61.69 and a beta of 1.89.

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 consensus estimate of $0.13 by ($0.02). Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. The company had revenue of $42.70 million for the quarter, compared to the consensus estimate of $41.64 million. During the same quarter last year, the business posted $0.02 earnings per share. Corcept Therapeutics’s revenue was up 96.8% on a year-over-year basis. analysts forecast that Corcept Therapeutics Incorporated will post 0.47 earnings per share for the current year.

In other news, Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics stock in a transaction on Monday, November 13th. The stock was sold at an average price of $17.59, for a total transaction of $527,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction on Friday, December 8th. The stock was sold at an average price of $16.72, for a total value of $133,760.00. Following the sale, the insider now owns 8,000 shares in the company, valued at $133,760. The disclosure for this sale can be found here. 19.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Corcept Therapeutics by 111.2% during the 2nd quarter. Bank of Montreal Can now owns 34,931 shares of the biotechnology company’s stock worth $413,000 after purchasing an additional 18,389 shares during the period. Birchview Capital LP raised its stake in shares of Corcept Therapeutics by 58.3% during the 2nd quarter. Birchview Capital LP now owns 95,000 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 35,000 shares during the period. California Public Employees Retirement System raised its stake in shares of Corcept Therapeutics by 3.6% during the 2nd quarter. California Public Employees Retirement System now owns 148,200 shares of the biotechnology company’s stock worth $1,749,000 after purchasing an additional 5,200 shares during the period. Prudential Financial Inc. raised its stake in shares of Corcept Therapeutics by 3,409.5% during the 2nd quarter. Prudential Financial Inc. now owns 633,223 shares of the biotechnology company’s stock worth $7,472,000 after purchasing an additional 615,180 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Corcept Therapeutics by 21.5% during the 2nd quarter. Rhumbline Advisers now owns 87,672 shares of the biotechnology company’s stock worth $1,035,000 after purchasing an additional 15,494 shares during the period. Institutional investors own 64.64% of the company’s stock.

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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).

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