Comerica Bank Decreases Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Comerica Bank trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,840 shares of the biotechnology company’s stock after selling 8,570 shares during the quarter. Comerica Bank’s holdings in Corcept Therapeutics were worth $1,995,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CORT. Gladius Capital Management LP purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at about $31,000. Lazard Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 2,286.8% during the second quarter. Lazard Asset Management LLC now owns 2,530 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 2,424 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Corcept Therapeutics during the second quarter valued at about $76,000. Captrust Financial Advisors increased its holdings in shares of Corcept Therapeutics by 87.8% during the first quarter. Captrust Financial Advisors now owns 6,805 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 3,181 shares in the last quarter. Finally, James Investment Research Inc. acquired a new position in shares of Corcept Therapeutics during the second quarter valued at about $191,000. 80.08% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Up 0.8 %

Shares of NASDAQ:CORT opened at $23.68 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $16.47 and a twelve month high of $30.14. The company’s 50 day moving average is $22.72 and its 200 day moving average is $25.45. The company has a market cap of $2.55 billion, a PE ratio of 23.68 and a beta of 0.60.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Corcept Therapeutics had a net margin of 29.37% and a return on equity of 27.49%. The company had revenue of $101.73 million for the quarter, compared to the consensus estimate of $107.73 million. Equities research analysts predict that Corcept Therapeutics Incorporated will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total value of $639,250.00. Following the sale, the insider now owns 56,462 shares in the company, valued at approximately $1,443,733.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 4,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total value of $125,308.42. Following the sale, the insider now owns 21,329 shares in the company, valued at approximately $555,193.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total value of $639,250.00. Following the completion of the sale, the insider now owns 56,462 shares in the company, valued at approximately $1,443,733.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,439 shares of company stock worth $1,040,958. Corporate insiders own 18.60% of the company’s stock.

Analysts Set New Price Targets

CORT has been the topic of several recent analyst reports. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday. HC Wainwright cut their price target on shares of Corcept Therapeutics from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, December 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Corcept Therapeutics Profile

(Get Rating)

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric 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.