Texas Permanent School Fund Lowers Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Texas Permanent School Fund lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,643 shares of the biotechnology company’s stock after selling 1,293 shares during the quarter. Texas Permanent School Fund owned 0.06% of Corcept Therapeutics worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tyers Asset Management LLC boosted its holdings in Corcept Therapeutics by 6.9% in the 2nd quarter. Tyers Asset Management LLC now owns 13,244 shares of the biotechnology company’s stock valued at $148,000 after purchasing an additional 858 shares in the last quarter. Intellectus Partners LLC boosted its stake in shares of Corcept Therapeutics by 9.1% during the 2nd quarter. Intellectus Partners LLC now owns 12,046 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 1,000 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Corcept Therapeutics by 7.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 15,100 shares of the biotechnology company’s stock worth $168,000 after acquiring an additional 1,000 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Corcept Therapeutics by 6.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 17,727 shares of the biotechnology company’s stock worth $251,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Corcept Therapeutics by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 162,135 shares of the biotechnology company’s stock worth $1,808,000 after acquiring an additional 1,087 shares in the last quarter. 76.65% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CORT traded up $0.27 during trading on Wednesday, hitting $16.38. 866,200 shares of the stock were exchanged, compared to its average volume of 934,331. The company has a fifty day moving average price of $14.33 and a two-hundred day moving average price of $12.23. The company has a market cap of $1.72 billion, a PE ratio of 27.30 and a beta of 1.35. Corcept Therapeutics Incorporated has a 12-month low of $9.14 and a 12-month high of $19.48.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Corcept Therapeutics had a return on equity of 29.08% and a net margin of 30.41%. The firm had revenue of $81.51 million during the quarter, compared to the consensus estimate of $77.86 million. During the same period in the previous year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 0.74 EPS for the current year.

CORT has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Corcept Therapeutics in a research note on Tuesday, September 24th. They set a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research raised Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research note on Wednesday, July 31st. ValuEngine lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. HC Wainwright initiated coverage on Corcept Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. Finally, BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $15.00.

About Corcept Therapeutics

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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

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