Envestnet Asset Management Inc. Buys 6,194 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Envestnet Asset Management Inc. boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,373 shares of the biotechnology company’s stock after purchasing an additional 6,194 shares during the period. Envestnet Asset Management Inc.’s holdings in Corcept Therapeutics were worth $3,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at $2,212,000. Sei Investments Co. increased its holdings in Corcept Therapeutics by 3.0% during the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 427 shares in the last quarter. Assetmark Inc. increased its holdings in Corcept Therapeutics by 1.7% during the 3rd quarter. Assetmark Inc. now owns 37,601 shares of the biotechnology company’s stock valued at $964,000 after purchasing an additional 620 shares in the last quarter. Meritage Portfolio Management increased its stake in shares of Corcept Therapeutics by 3.4% in the 3rd quarter. Meritage Portfolio Management now owns 19,055 shares of the biotechnology company’s stock valued at $489,000 after buying an additional 633 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Corcept Therapeutics by 12.2% in the 2nd quarter. Captrust Financial Advisors now owns 7,632 shares of the biotechnology company’s stock valued at $181,000 after buying an additional 827 shares during the period. 80.08% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $21.20 on Tuesday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 24.09 and a beta of 0.48. The stock’s 50-day moving average is $22.04 and its 200-day moving average is $24.35. Corcept Therapeutics Incorporated has a one year low of $17.19 and a one year high of $30.14.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The biotechnology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.09). The business had revenue of $103.06 million for the quarter, compared to analyst estimates of $106.93 million. Corcept Therapeutics had a return on equity of 22.20% and a net margin of 25.21%. Corcept Therapeutics’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

CORT has been the subject of several research reports. Jefferies Financial Group cut Corcept Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $35.00 to $22.00 in a research note on Wednesday, February 15th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Corcept Therapeutics in a research note on Wednesday, March 1st. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 30th.

Corcept Therapeutics Company Profile

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Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.