Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,044 shares of the biotechnology company’s stock after selling 540 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Corcept Therapeutics were worth $133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Corcept Therapeutics by 4.0% in the first quarter. BlackRock Inc. now owns 16,171,231 shares of the biotechnology company’s stock valued at $384,714,000 after purchasing an additional 624,707 shares during the period. Ingalls & Snyder LLC grew its position in shares of Corcept Therapeutics by 1.8% in the second quarter. Ingalls & Snyder LLC now owns 7,071,155 shares of the biotechnology company’s stock valued at $155,565,000 after purchasing an additional 124,423 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Corcept Therapeutics by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,612,484 shares of the biotechnology company’s stock valued at $62,097,000 after purchasing an additional 44,432 shares during the period. Geode Capital Management LLC grew its position in shares of Corcept Therapeutics by 7.5% in the first quarter. Geode Capital Management LLC now owns 1,771,205 shares of the biotechnology company’s stock valued at $42,136,000 after purchasing an additional 123,882 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Corcept Therapeutics by 2.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,047,263 shares of the biotechnology company’s stock valued at $24,914,000 after purchasing an additional 23,327 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

Several equities analysts have recently weighed in on CORT shares. TheStreet raised shares of Corcept Therapeutics from a “c+” rating to a “b-” rating in a research note on Thursday, July 8th. HC Wainwright reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, July 30th. Zacks Investment Research raised shares of Corcept Therapeutics from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research note on Wednesday, July 7th. Finally, UBS Group reissued a “positive” rating on shares of Corcept Therapeutics in a research note on Tuesday, June 22nd.

Shares of CORT stock opened at $20.41 on Tuesday. The firm’s 50-day moving average is $20.89 and its two-hundred day moving average is $22.11. Corcept Therapeutics Incorporated has a 12 month low of $16.42 and a 12 month high of $31.18. The company has a market capitalization of $2.37 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.80 and a beta of 0.69.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, July 29th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $91.59 million for the quarter, compared to the consensus estimate of $85.83 million. Corcept Therapeutics had a net margin of 28.45% and a return on equity of 19.08%. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 0.82 earnings per share for the current fiscal year.

In related news, Director Daniel N. Swisher, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $21.70, for a total value of $162,750.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $162,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Charles Robb sold 47,853 shares of the company’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $20.49, for a total transaction of $980,507.97. The disclosure for this sale can be found here. Insiders sold 136,694 shares of company stock valued at $2,894,971 in the last 90 days. Company insiders own 16.50% of the company’s stock.

Corcept Therapeutics Profile

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.

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

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