Jasper Ridge Partners L.P. purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the biotechnology company’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio increased its holdings in shares of Corcept Therapeutics by 2.0% during the 2nd quarter. Strs Ohio now owns 72,900 shares of the biotechnology company’s stock worth $860,000 after buying an additional 1,400 shares during the last quarter. Chicago Equity Partners LLC increased its holdings in shares of Corcept Therapeutics by 5.2% during the 1st quarter. Chicago Equity Partners LLC now owns 54,435 shares of the biotechnology company’s stock worth $597,000 after buying an additional 2,680 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Corcept Therapeutics by 5.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 56,303 shares of the biotechnology company’s stock worth $617,000 after buying an additional 2,992 shares during the last quarter. American International Group Inc. increased its holdings in shares of Corcept Therapeutics by 7.1% during the 1st quarter. American International Group Inc. now owns 46,000 shares of the biotechnology company’s stock worth $504,000 after buying an additional 3,042 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Corcept Therapeutics by 31.9% during the 2nd quarter. Legal & General Group Plc now owns 23,261 shares of the biotechnology company’s stock worth $276,000 after buying an additional 5,623 shares during the last quarter. Institutional investors and hedge funds own 61.48% of the company’s stock.

Shares of Corcept Therapeutics Incorporated (NASDAQ CORT) traded up 0.62% during midday trading on Tuesday, reaching $17.90. 386,112 shares of the company were exchanged. The company has a market capitalization of $2.03 billion, a PE ratio of 89.05 and a beta of 2.07. Corcept Therapeutics Incorporated has a 52-week low of $5.56 and a 52-week high of $18.25. The stock’s 50-day moving average price is $14.46 and its 200-day moving average price is $11.75.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $35.56 million during the quarter, compared to analyst estimates of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The firm’s revenue for the quarter was up 80.3% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post $0.42 EPS for the current year.

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In other Corcept Therapeutics news, Director David L. Mahoney sold 23,006 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $12.50, for a total transaction of $287,575.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Mahoney sold 6,510 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $12.50, for a total transaction of $81,375.00. 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.

A number of analysts have recently issued reports on the stock. Piper Jaffray Companies raised their price target on shares of Corcept Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus assumed coverage on shares of Corcept Therapeutics in a research note on Thursday, August 31st. They issued a “buy” rating and a $20.00 price target for the company. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research note on Wednesday, July 19th. Finally, Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $16.17.

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).

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

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