State Street Corp Buys 420,139 Shares of Corcept Therapeutics Incorporated (CORT)

State Street Corp grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,028,013 shares of the biotechnology company’s stock after purchasing an additional 420,139 shares during the quarter. State Street Corp owned approximately 1.79% of Corcept Therapeutics worth $23,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CORT. BNP Paribas Arbitrage SA lifted its holdings in shares of Corcept Therapeutics by 2,942.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 9,388 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Corcept Therapeutics by 52.6% during the second quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after acquiring an additional 3,390 shares during the period. Sand Hill Global Advisors LLC bought a new stake in Corcept Therapeutics during the second quarter worth $118,000. Jasper Ridge Partners L.P. bought a new stake in Corcept Therapeutics during the second quarter worth $118,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Corcept Therapeutics during the second quarter worth $127,000. Institutional investors own 63.59% of the company’s stock.

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Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) opened at $18.20 on Wednesday. The stock has a market capitalization of $2,025.70, a price-to-earnings ratio of 61.21 and a beta of 2.04. Corcept Therapeutics Incorporated has a one year low of $6.70 and a one year high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, November 2nd. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). The firm had revenue of $42.70 million during the quarter, compared to the consensus estimate of $41.64 million. Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. The business’s quarterly revenue was up 96.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. equities analysts forecast that Corcept Therapeutics Incorporated will post 0.48 EPS for the current fiscal year.

A number of analysts recently commented on CORT shares. Ladenburg Thalmann Financial Services set a $20.00 price target on Corcept Therapeutics and gave the stock a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Wednesday, July 19th. BidaskClub upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Piper Jaffray Companies set a $18.00 price target on Corcept Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Stifel Nicolaus started coverage on Corcept Therapeutics in a report on Thursday, August 31st. They set a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Corcept Therapeutics presently has a consensus rating of “Buy” and an average target price of $18.20.

About Corcept Therapeutics

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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