Smith Asset Management Group LP boosted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 206.6% during the second quarter, Holdings Channel reports. The institutional investor owned 264,095 shares of the biotechnology company’s stock after buying an additional 177,955 shares during the period. Smith Asset Management Group LP’s holdings in Corcept Therapeutics were worth $3,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in Corcept Therapeutics by 205.5% in the first quarter. Acadian Asset Management LLC now owns 1,110,509 shares of the biotechnology company’s stock worth $12,170,000 after buying an additional 747,060 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Corcept Therapeutics by 1,101.5% in the second quarter. Russell Investments Group Ltd. now owns 607,427 shares of the biotechnology company’s stock worth $7,167,000 after buying an additional 556,871 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Corcept Therapeutics by 96.3% in the first quarter. Bank of New York Mellon Corp now owns 884,647 shares of the biotechnology company’s stock worth $9,696,000 after buying an additional 434,080 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Corcept Therapeutics during the first quarter worth approximately $4,392,000. Finally, Vanguard Group Inc. boosted its position in Corcept Therapeutics by 10.6% in the first quarter. Vanguard Group Inc. now owns 3,750,510 shares of the biotechnology company’s stock worth $41,106,000 after buying an additional 359,177 shares in the last quarter. 54.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of Corcept Therapeutics Incorporated (NASDAQ CORT) opened at 14.07 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $5.24 and a 52-week high of $15.26. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 70.00 and a beta of 2.06. The firm’s 50-day moving average is $12.69 and its 200 day moving average is $10.66.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $35.56 million for the quarter, compared to the consensus estimate of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. Corcept Therapeutics’s revenue for the quarter was up 80.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Equities analysts expect that Corcept Therapeutics Incorporated will post $0.43 EPS for the current year.

WARNING: “Corcept Therapeutics Incorporated (CORT) Shares Bought by Smith Asset Management Group LP” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/13/corcept-therapeutics-incorporated-cort-shares-bought-by-smith-asset-management-group-lp.html.

A number of research analysts recently commented on CORT shares. Zacks Investment Research raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, July 19th. Piper Jaffray Companies set a $18.00 target price on Corcept Therapeutics and gave the company a “buy” rating in a research note on Monday, May 15th. Ladenburg Thalmann Financial Services set a $20.00 target price on Corcept Therapeutics and gave the company a “buy” rating in a research note on Tuesday, July 18th. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, TheStreet cut Corcept Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.20.

In other news, Director David L. Mahoney sold 23,006 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $12.50, for a total value of $287,575.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Mahoney sold 6,091 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $12.50, for a total transaction of $76,137.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,601 shares of company stock worth $532,513. Insiders own 19.20% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated 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 is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

Want to see what other hedge funds are holding CORT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corcept Therapeutics Incorporated (NASDAQ:CORT).

Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

Receive News & Ratings for Corcept Therapeutics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.