Dana Investment Advisors Inc. Sells 28,840 Shares of Corcept Therapeutics Incorporated (CORT)
Dana Investment Advisors Inc. lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,623 shares of the biotechnology company’s stock after selling 28,840 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.09% of Corcept Therapeutics worth $1,451,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $31,000. Private Capital Group LLC raised its position in Corcept Therapeutics by 291.7% during the fourth quarter. Private Capital Group LLC now owns 2,836 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 2,112 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $40,000. Bremer Trust National Association bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Finally, Bank of Montreal Can raised its position in Corcept Therapeutics by 33.1% during the fourth quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 1,202 shares in the last quarter. 78.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Cantor Fitzgerald set a $14.00 price target on shares of Corcept Therapeutics and gave the company a “hold” rating in a research report on Tuesday, February 26th. BidaskClub raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, February 11th. B. Riley set a $11.00 price target on shares of Corcept Therapeutics and gave the company a “hold” rating in a research report on Tuesday, February 5th. Finally, Zacks Investment Research lowered shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Corcept Therapeutics has an average rating of “Hold” and a consensus target price of $17.00.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, February 25th. The biotechnology company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.03. Corcept Therapeutics had a net margin of 29.97% and a return on equity of 30.30%. The company had revenue of $66.80 million for the quarter, compared to analyst estimates of $70.43 million. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.83 EPS for the current year.
In related news, Director G Leonard Baker, Jr. acquired 100,000 shares of the stock in a transaction dated Tuesday, February 12th. The shares were acquired at an average price of $11.39 per share, for a total transaction of $1,139,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.00% of the company’s stock.
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Corcept Therapeutics Company 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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