Virginia Retirement Systems ET AL Takes Position in Corcept Therapeutics Incorporated (CORT)

Virginia Retirement Systems ET AL purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,800 shares of the biotechnology company’s stock, valued at approximately $127,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Corcept Therapeutics by 10.6% during the first quarter. Vanguard Group Inc. now owns 3,750,510 shares of the biotechnology company’s stock worth $41,106,000 after purchasing an additional 359,177 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Corcept Therapeutics by 23.3% during the first quarter. Renaissance Technologies LLC now owns 1,858,500 shares of the biotechnology company’s stock worth $20,369,000 after purchasing an additional 351,000 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Corcept Therapeutics by 53.0% during the second quarter. Acadian Asset Management LLC now owns 1,698,971 shares of the biotechnology company’s stock worth $20,049,000 after purchasing an additional 588,462 shares in the last quarter. State Street Corp lifted its position in shares of Corcept Therapeutics by 27.6% during the first quarter. State Street Corp now owns 1,607,874 shares of the biotechnology company’s stock worth $17,623,000 after purchasing an additional 347,808 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Corcept Therapeutics during the second quarter worth about $13,942,000. 61.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of Corcept Therapeutics Incorporated (CORT) opened at 17.95 on Wednesday. The company’s 50 day moving average is $14.56 and its 200-day moving average is $11.80. Corcept Therapeutics Incorporated has a 1-year low of $5.56 and a 1-year high of $18.25. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 89.30 and a beta of 2.07.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $35.56 million for the quarter, compared to analyst estimates of $31.37 million. Corcept Therapeutics had a return on equity of 51.45% and a net margin of 22.28%. Corcept Therapeutics’s revenue for the quarter was up 80.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. Equities analysts anticipate that Corcept Therapeutics Incorporated will post $0.42 earnings per share for the current fiscal year.

A number of research firms recently weighed in on CORT. BidaskClub upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Piper Jaffray Companies upped their target price on shares of Corcept Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research lowered shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research note on Monday, May 22nd. Finally, Ladenburg Thalmann Financial Services set a $20.00 target price 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 issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.17.

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In related news, Director David L. Mahoney sold 23,006 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total transaction of $287,575.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David L. Mahoney sold 6,510 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total value of $81,375.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,601 shares of company stock worth $532,513 over the last three months. 19.20% of the stock is currently owned by corporate insiders.

Corcept Therapeutics 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).

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

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