Corcept Therapeutics Incorporated $CORT Holdings Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6,796.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 390,559 shares of the biotechnology company’s stock after buying an additional 384,896 shares during the period. Pacer Advisors Inc. owned 0.37% of Corcept Therapeutics worth $32,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cerity Partners LLC grew its stake in shares of Corcept Therapeutics by 21.4% in the second quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock worth $54,800,000 after purchasing an additional 131,799 shares in the last quarter. Castleark Management LLC acquired a new stake in Corcept Therapeutics in the second quarter worth about $2,711,000. State Board of Administration of Florida Retirement System increased its stake in Corcept Therapeutics by 154.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 58,596 shares of the biotechnology company’s stock valued at $4,301,000 after buying an additional 35,539 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Corcept Therapeutics by 883.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock worth $1,443,000 after buying an additional 17,660 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $56,181,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $82.65 on Friday. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1 year low of $49.00 and a 1 year high of $117.33. The company has a market cap of $8.69 billion, a PE ratio of 93.92 and a beta of 0.20. The stock’s 50-day moving average price is $78.76 and its two-hundred day moving average price is $75.46.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $207.64 million during the quarter, compared to analysts’ expectations of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The business’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on CORT shares. UBS Group assumed coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday. Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Wolfe Research initiated coverage on Corcept Therapeutics in a research note on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 price target on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.20.

Insider Activity

In other news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.53, for a total value of $397,650.00. Following the completion of the sale, the insider owned 10,277 shares in the company, valued at $817,329.81. This represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.52, for a total value of $1,590,400.00. Following the transaction, the insider owned 7,904 shares in the company, valued at $628,526.08. This represents a 71.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 261,700 shares of company stock valued at $21,002,348 in the last 90 days. Company insiders own 20.80% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.