Corcept Therapeutics Inc. (CORT) Shares Down 2.2%
Corcept Therapeutics Inc. (NASDAQ:CORT)’s share price fell 2.2% during trading on Tuesday . The company traded as low as $5.80 and last traded at $5.82, with a volume of 151,821 shares trading hands. The stock had previously closed at $5.95.
A number of brokerages have commented on CORT. FBR & Co restated a “buy” rating on shares of Corcept Therapeutics in a research note on Saturday, June 4th. Zacks Investment Research upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research note on Tuesday, July 12th.
The stock has a 50-day moving average of $5.62 and a 200 day moving average of $4.73. The firm’s market capitalization is $639.01 million.
Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Tuesday, May 3rd. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $16.10 million for the quarter, compared to analyst estimates of $16.32 million. Analysts anticipate that Corcept Therapeutics Inc. will post $0.04 EPS for the current year.
In other news, Director G Leonard Baker, Jr. bought 100,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $4.88 per share, with a total value of $488,000.00. Following the transaction, the director now directly owns 721,038 shares in the company, valued at $3,518,665.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake in Corcept Therapeutics stock. Thornburg Investment Management Inc. boosted its position in Corcept Therapeutics Inc. (NASDAQ:CORT) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,778 shares of the company’s stock after buying an additional 65,600 shares during the period. Thornburg Investment Management Inc. owned about 0.37% of Corcept Therapeutics worth $1,991,000 as of its most recent filing with the SEC.
Corcept Therapeutics Inc 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’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.
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