Alliancebernstein L.P. Has $3.52 Million Holdings in Corcept Therapeutics Incorporated (CORT)

Alliancebernstein L.P. lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 14.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 298,540 shares of the biotechnology company’s stock after selling 50,140 shares during the quarter. Alliancebernstein L.P. owned about 0.26% of Corcept Therapeutics worth $3,523,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of Corcept Therapeutics by 2,942.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 9,388 shares in the last quarter. Sand Hill Global Advisors LLC bought a new position in Corcept Therapeutics during the 2nd quarter worth about $118,000. Virginia Retirement Systems ET AL bought a new position in Corcept Therapeutics during the 2nd quarter worth about $127,000. Jane Street Group LLC bought a new position in Corcept Therapeutics during the 1st quarter worth about $153,000. Finally, ARP Americas LLC bought a new position in Corcept Therapeutics during the 2nd quarter worth about $163,000. 61.94% of the stock is currently owned by institutional investors.

In related news, Director David L. Mahoney sold 23,006 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $12.50, for a total value of $287,575.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 19.20% of the company’s stock.

A number of equities analysts have recently commented on CORT shares. BidaskClub upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Ladenburg Thalmann Financial Services set a $20.00 target price on shares of Corcept Therapeutics and gave the company a “buy” rating in a research note on Tuesday, July 18th. Piper Jaffray Companies set a $18.00 price objective on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Stifel Nicolaus started coverage on shares of Corcept Therapeutics in a research report on Thursday, August 31st. They set a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $16.17.

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Corcept Therapeutics Incorporated (NASDAQ:CORT) opened at 18.87 on Tuesday. The stock has a market capitalization of $2.14 billion, a PE ratio of 93.88 and a beta of 2.12. The firm has a 50-day moving average of $18.16 and a 200-day moving average of $13.35. Corcept Therapeutics Incorporated has a 1-year low of $6.11 and a 1-year high of $20.77.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The company had revenue of $35.56 million for the quarter, compared to analysts’ expectations of $31.37 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. Corcept Therapeutics’s quarterly revenue was up 80.3% on a year-over-year basis. Equities analysts expect that Corcept Therapeutics Incorporated will post $0.42 EPS for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

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

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