Corcept Therapeutics Inc. (CORT) Shares Down 6.3%
Shares of Corcept Therapeutics Inc. (NASDAQ:CORT) were down 6.3% during trading on Wednesday . The stock traded as low as $5.60 and last traded at $5.67, with a volume of 302,509 shares. The stock had previously closed at $6.05.
Several analysts have commented on CORT shares. FBR & Co reiterated an “outperform” rating and issued a $12.00 price target on shares of Corcept Therapeutics in a research note on Thursday, June 23rd. Zacks Investment Research cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th.
The firm has a market cap of $628.17 million and a PE ratio of 631.11. The stock’s 50 day moving average is $5.72 and its 200 day moving average is $4.88.
Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $19.70 million for the quarter, compared to analysts’ expectations of $18.36 million. On average, equities analysts anticipate that Corcept Therapeutics Inc. will post $0.06 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Corcept Therapeutics stock. Globeflex Capital L P raised its stake in Corcept Therapeutics Inc. (NASDAQ:CORT) by 164.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 244,301 shares of the company’s stock after buying an additional 151,869 shares during the period. Globeflex Capital L P owned 0.22% of Corcept Therapeutics worth $1,217,000 at the end of the most recent reporting period.
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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