Sit Investment Associates Inc. Buys 35,250 Shares of Corcept Therapeutics Incorporated (CORT)
Sit Investment Associates Inc. grew its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 58.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,650 shares of the biotechnology company’s stock after acquiring an additional 35,250 shares during the period. Sit Investment Associates Inc.’s holdings in Corcept Therapeutics were worth $1,727,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in shares of Corcept Therapeutics by 44.4% in the second quarter. Renaissance Technologies LLC now owns 2,683,400 shares of the biotechnology company’s stock worth $31,664,000 after buying an additional 824,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Corcept Therapeutics by 18.4% in the second quarter. Vanguard Group Inc. now owns 4,440,064 shares of the biotechnology company’s stock worth $52,394,000 after buying an additional 689,554 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Corcept Therapeutics by 316.9% in the second quarter. Teachers Advisors LLC now owns 817,245 shares of the biotechnology company’s stock worth $9,643,000 after buying an additional 621,219 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Corcept Therapeutics by 644.4% in the third quarter. Wells Fargo & Company MN now owns 715,261 shares of the biotechnology company’s stock worth $13,805,000 after buying an additional 619,180 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Corcept Therapeutics by 74.1% in the third quarter. Prudential Financial Inc. now owns 1,102,483 shares of the biotechnology company’s stock worth $21,278,000 after buying an additional 469,260 shares in the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Robert S. Fishman sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were 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 approximately $133,760. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $810,820 in the last 90 days. Company insiders own 19.20% of the company’s stock.
A number of equities research analysts recently issued reports on CORT shares. Piper Jaffray Companies set a $30.00 price objective on Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BidaskClub upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $21.00.
Shares of Corcept Therapeutics Incorporated (CORT) opened at $20.65 on Monday. Corcept Therapeutics Incorporated has a 12-month low of $6.70 and a 12-month high of $21.00. The firm has a market capitalization of $2,356.67, a PE ratio of 71.21 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 for the quarter, missing the Zacks’ 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 firm had revenue of $42.70 million for the quarter, compared to analysts’ expectations of $41.64 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s revenue for the quarter 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 fiscal year.
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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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