Trustcore Financial Services LLC Acquires New Stake in Corcept Therapeutics Incorporated (CORT)

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Trustcore Financial Services LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 49,568 shares of the biotechnology company’s stock, valued at approximately $582,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $31,000. Private Capital Group LLC increased its position in shares of Corcept Therapeutics by 291.7% during the fourth quarter. Private Capital Group LLC now owns 2,836 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 2,112 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $40,000. Bremer Trust National Association bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Finally, Bank of Montreal Can increased its position in shares of Corcept Therapeutics by 33.1% during the fourth quarter. Bank of Montreal Can now owns 4,831 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 1,202 shares during the period. Institutional investors and hedge funds own 79.53% of the company’s stock.

A number of analysts have recently issued reports on the company. ValuEngine cut Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Zacks Investment Research upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Friday, April 5th. TheStreet cut Corcept Therapeutics from a “b” rating to a “c+” rating in a research report on Friday, May 10th. Cantor Fitzgerald set a $14.00 price objective on Corcept Therapeutics and gave the company a “hold” rating in a research report on Tuesday, February 26th. Finally, BidaskClub cut Corcept Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $12.50.

NASDAQ:CORT traded down $0.04 during trading hours on Thursday, reaching $10.90. The company had a trading volume of 9,862 shares, compared to its average volume of 1,288,675. Corcept Therapeutics Incorporated has a one year low of $9.14 and a one year high of $20.00. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 18.20 and a beta of 1.26.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Corcept Therapeutics had a net margin of 29.52% and a return on equity of 28.66%. The company had revenue of $64.80 million during the quarter, compared to the consensus estimate of $69.29 million. During the same quarter last year, the company earned $0.14 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.82 earnings per share for the current fiscal year.

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Corcept Therapeutics Profile

Corcept Therapeutics Incorporated 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.

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

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