Russell Investments Group Ltd. Has $1.38 Million Stake in Corcept Therapeutics Incorporated (CORT)

Russell Investments Group Ltd. cut its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 73.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,512 shares of the biotechnology company’s stock after selling 272,971 shares during the period. Russell Investments Group Ltd. owned 0.08% of Corcept Therapeutics worth $1,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CORT. Alps Advisors Inc. boosted its stake in shares of Corcept Therapeutics by 31.8% during the third quarter. Alps Advisors Inc. now owns 33,749 shares of the biotechnology company’s stock valued at $473,000 after purchasing an additional 8,139 shares during the period. Creative Planning lifted its stake in Corcept Therapeutics by 24.7% in the third quarter. Creative Planning now owns 38,246 shares of the biotechnology company’s stock worth $536,000 after acquiring an additional 7,586 shares during the period. Texas Permanent School Fund lifted its stake in Corcept Therapeutics by 7.6% in the third quarter. Texas Permanent School Fund now owns 66,448 shares of the biotechnology company’s stock worth $932,000 after acquiring an additional 4,718 shares during the period. Capital Impact Advisors LLC lifted its stake in Corcept Therapeutics by 30.3% in the third quarter. Capital Impact Advisors LLC now owns 152,989 shares of the biotechnology company’s stock worth $2,101,000 after acquiring an additional 35,550 shares during the period. Finally, Peregrine Capital Management LLC purchased a new stake in Corcept Therapeutics in the third quarter worth $4,512,000. Hedge funds and other institutional investors own 77.02% of the company’s stock.

Shares of CORT stock opened at $13.04 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $11.21 and a 52 week high of $25.96. The firm has a market capitalization of $1.51 billion, a P/E ratio of 22.10 and a beta of 1.74.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, November 1st. The biotechnology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $64.45 million during the quarter, compared to analysts’ expectations of $67.42 million. Corcept Therapeutics had a return on equity of 32.96% and a net margin of 63.79%. The business’s revenue was up 50.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, analysts expect that Corcept Therapeutics Incorporated will post 0.6 EPS for the current fiscal year.

A number of brokerages recently commented on CORT. BidaskClub raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. ValuEngine raised Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Zacks Investment Research lowered Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 price target (down previously from $20.00) on shares of Corcept Therapeutics in a research note on Friday, August 10th. Finally, Cantor Fitzgerald began coverage on Corcept Therapeutics in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.83.

In other news, Director G Leonard Baker, Jr. acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was acquired at an average price of $12.73 per share, for a total transaction of $1,273,000.00. Following the completion of the acquisition, the director now owns 966,838 shares in the company, valued at $12,307,847.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $13.74, for a total value of $109,920.00. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at approximately $109,920. The disclosure for this sale can be found here. In the last quarter, insiders acquired 317,428 shares of company stock valued at $4,089,564. 15.00% of the stock is owned by corporate insiders.

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Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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

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