Corcept Therapeutics Incorporated $CORT Holdings Boosted by Kennedy Capital Management LLC

Kennedy Capital Management LLC grew its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 35.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,013 shares of the biotechnology company’s stock after purchasing an additional 30,090 shares during the quarter. Kennedy Capital Management LLC’s holdings in Corcept Therapeutics were worth $8,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 273.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 1,055 shares during the last quarter. Van Hulzen Asset Management LLC acquired a new stake in Corcept Therapeutics in the second quarter worth $1,247,000. Lido Advisors LLC increased its position in Corcept Therapeutics by 8.3% in the second quarter. Lido Advisors LLC now owns 6,064 shares of the biotechnology company’s stock worth $445,000 after buying an additional 463 shares during the period. New York State Common Retirement Fund lifted its stake in Corcept Therapeutics by 19.1% in the second quarter. New York State Common Retirement Fund now owns 42,363 shares of the biotechnology company’s stock valued at $3,109,000 after buying an additional 6,800 shares during the last quarter. Finally, F m Investments LLC acquired a new position in shares of Corcept Therapeutics during the second quarter valued at $1,613,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.99, for a total transaction of $1,479,800.00. Following the transaction, the insider directly owned 7,904 shares of the company’s stock, valued at $584,816.96. The trade was a 71.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total transaction of $3,403,200.00. Following the completion of the sale, the chief executive officer owned 2,781,370 shares in the company, valued at approximately $236,638,959.60. This trade represents a 1.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 263,900 shares of company stock valued at $21,161,738 over the last 90 days. 20.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Zacks Research cut shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. Finally, Wolfe Research assumed coverage on Corcept Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Hold” and an average price target of $135.25.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $84.66 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $49.00 and a 12 month high of $117.33. The firm has a market capitalization of $8.91 billion, a PE ratio of 96.21 and a beta of 0.20. The company’s 50 day simple moving average is $78.23 and its 200 day simple moving average is $74.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. During the same period in the previous year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.