TheStreet lowers Corcept Therapeutics (NASDAQ: CORT) to C +
Corcept Therapeutics (NASDAQ: CORT) was downgraded by equity researchers at TheStreet from a ‘b’ to a ‘c +’ rating in a research report released Wednesday to clients and investors, The street odds table reports.
CORT stock opened at $ 21.74 on Wednesday. The company has a market cap of $ 2.54 billion, a P / E ratio of 27.87, a P / E / G ratio of 2.39 and a beta of 0.73. The company has a 50-day moving average of $ 22.46. Corcept Therapeutics has a 52 week low of $ 12.20 and a 52 week high of $ 31.18.
Corcept Therapeutics (NASDAQ: CORT) last released its quarterly earnings data on Thursday, May 6. The biotech company reported earnings per share of $ 0.18 for the quarter, missing the consensus estimate of $ 0.21 of ($ 0.03). The company posted revenue of $ 79.44 million in the quarter, compared to analysts’ estimates of $ 96.99 million. Corcept Therapeutics recorded a return on equity of 20.11% and a net margin of 29.23%. The company’s revenue for the quarter was down 14.8% from the same quarter last year. During the same period of the previous year, the company earned $ 0.34 per share. On average, stock analysts expect Corcept Therapeutics to post earnings per share of 0.78 for the current fiscal year.
In other news from Corcept Therapeutics, CAO Joseph Douglas Lyon sold 25,000 shares of the company in a transaction dated Thursday April 1. The shares were sold for an average price of $ 23.88, for a total value of $ 597,000.00. Following the sale, the chief accounting officer now directly owns 25,000 shares of the company, valued at $ 597,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In addition, CFO Gary Charles Robb sold 10,000 shares of the company in a transaction dated Friday, April 23. The stock was sold at an average price of $ 24.02, for a total trade of $ 240,200.00. Following the completion of the sale, the Chief Financial Officer now owns 75,638 shares of the company, valued at $ 1,816,824.76. Disclosure of this sale can be found here. Insiders have sold 42,500 shares of the company valued at $ 1,018,250 in the past ninety days. Company insiders own 16.40% of the company’s shares.
Institutional investors have recently changed their holdings in the company. Captrust Financial Advisors increased its position in Corcept Therapeutics by 1,706.8% in the first quarter. Captrust Financial Advisors now owns 3,975 shares of the biotech company valued at $ 95,000 after acquiring 3,755 additional shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter for a value of approximately $ 1,193,000. Camden Capital LLC acquired a new stake in Corcept Therapeutics during the 4th quarter for a value of approximately $ 207,000. First Citizens Bank & Trust Co. acquired a new stake in Corcept Therapeutics during the 1st quarter for a value of approximately $ 210,000. Finally, Eqis Capital Management Inc. acquired a new stake in Corcept Therapeutics during the 1st quarter for a value of approximately $ 219,000. Hedge funds and other institutional investors hold 69.37% of the company’s shares.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated discovers, develops and markets drugs for the treatment of severe metabolic, oncological and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medicine for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing syndrome, who have type 2 diabetes or have glucose intolerance, and who have failed surgery or are not candidates for surgery.
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