Corcept Therapeutics (CORT) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Corcept Therapeutics (NASDAQ:CORT) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

CORT has been the topic of a number of other reports. ValuEngine downgraded Corcept Therapeutics from a hold rating to a sell rating in a research note on Thursday, January 24th. Cantor Fitzgerald set a $17.00 price target on Corcept Therapeutics and gave the stock a hold rating in a research note on Monday, November 19th. Zacks Investment Research upgraded Corcept Therapeutics from a hold rating to a buy rating and set a $17.00 price target on the stock in a research note on Thursday, January 17th. Finally, B. Riley downgraded Corcept Therapeutics from a buy rating to a neutral rating and dropped their price target for the stock from $22.00 to $12.00 in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $17.00.

Corcept Therapeutics stock opened at $11.52 on Monday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 26.18 and a beta of 1.19. Corcept Therapeutics has a 12 month low of $9.14 and a 12 month high of $20.00.

In related news, CEO Joseph K. Belanoff sold 217,115 shares of Corcept Therapeutics stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $19.01, for a total transaction of $4,127,356.15. Following the transaction, the chief executive officer now directly owns 2,381,310 shares in the company, valued at $45,268,703.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 60,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $19.01, for a total value of $1,140,600.00. Following the transaction, the insider now owns 65,015 shares in the company, valued at $1,235,935.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 302,115 shares of company stock worth $5,743,206. Company insiders own 15.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CORT. Raymond James & Associates lifted its position in Corcept Therapeutics by 20.1% during the second quarter. Raymond James & Associates now owns 49,670 shares of the biotechnology company’s stock valued at $781,000 after purchasing an additional 8,302 shares in the last quarter. California Public Employees Retirement System lifted its position in Corcept Therapeutics by 11.0% during the second quarter. California Public Employees Retirement System now owns 156,958 shares of the biotechnology company’s stock valued at $2,467,000 after purchasing an additional 15,541 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Corcept Therapeutics by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 1,197,952 shares of the biotechnology company’s stock valued at $18,831,000 after purchasing an additional 11,001 shares in the last quarter. Northern Trust Corp lifted its position in Corcept Therapeutics by 11.7% during the second quarter. Northern Trust Corp now owns 1,247,442 shares of the biotechnology company’s stock valued at $19,610,000 after purchasing an additional 130,839 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Corcept Therapeutics during the third quarter valued at $211,000. Institutional investors own 77.63% of the company’s stock.

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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