Notable Price Action: Corcept Therapeutics Incorporated on Focus After Trading At 52-Week Highs

Notable Price Action: Corcept Therapeutics Incorporated on Focus After Trading At 52 Week Highs

The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high and has $11.17 target or 66.00% above today’s $6.73 share price. The 9 months bullish chart indicates low risk for the $764.91M company. The 1-year high was reported on Oct, 4 by Barchart.com. If the $11.17 price target is reached, the company will be worth $504.84M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 62,414 shares traded hands. Corcept Therapeutics Incorporated (NASDAQ:CORT) has risen 69.11% since March 1, 2016 and is uptrending. It has outperformed by 59.87% the S&P500.

Analysts await Corcept Therapeutics Incorporated (NASDAQ:CORT) to report earnings on November, 3. CORT’s profit will be $2.27M for 84.13 P/E if the $0.02 EPS becomes a reality. After $0.02 actual earnings per share reported by Corcept Therapeutics Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

According to Zacks Investment Research, “Corcept Therapeutics Incorporated is a pharmaceutical company. It is engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The company focuses on disorders that are associated with a steroid hormone called cortisol. It is developing its lead product, CORLUX for the treatment of the psychotic features of psychotic major depression. Corcept Therapeutics Incorporated is headquartered in Menlo Park, California.”

Insitutional Activity: The institutional sentiment increased to 1.8 in 2016 Q2. Its up 0.57, from 1.23 in 2016Q1. The ratio increased, as 13 funds sold all Corcept Therapeutics Incorporated shares owned while 22 reduced positions. 24 funds bought stakes while 39 increased positions. They now own 45.31 million shares or 34.44% more from 33.70 million shares in 2016Q1.
Teachers Advsr, a New York-based fund reported 118,135 shares. Da Davidson & Company holds 0.01% or 87,634 shares in its portfolio. Moreover, Millennium Lc has 0% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 211,724 shares. Falcon Point Lc last reported 0.09% of its portfolio in the stock. Walleye Trading Ltd Limited Liability Company has 0% invested in the company for 400 shares. Gsa Cap Llp accumulated 0.12% or 413,902 shares. Aqr Cap Ltd Limited Liability Company holds 0% or 96,804 shares in its portfolio. Gp reported 43,003 shares or 0% of all its holdings. New York State Common Retirement Fund has invested 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). Menta Ltd Liability Corp owns 310,029 shares or 0.23% of their US portfolio. Tiaa Cref Invest Mgmt Ltd Llc last reported 0% of its portfolio in the stock. California State Teachers Retirement Systems last reported 156,638 shares in the company. Morgan Stanley holds 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 2.07 million shares. Gotham Asset Ltd Liability Corporation accumulated 0% or 15,024 shares. Goldman Sachs Grp Inc accumulated 0% or 60,719 shares.

Insider Transactions: Since May 6, 2016, the stock had 1 insider buy, and 0 sales for $487,895 net activity. 100,000 Corcept Therapeutics Incorporated (NASDAQ:CORT) shares with value of $487,895 were bought by BAKER G LEONARD JR.

More recent Corcept Therapeutics Incorporated (NASDAQ:CORT) news were published by: Fool.com which released: “Corcept Therapeutics Rose 18% in March. Here’s Why.” on April 06, 2016. Also Fool.com published the news titled: “Why Corcept Therapeutics Incorporated Shares Were Mauled” on May 07, 2014. Seekingalpha.com‘s news article titled: “Corcept Therapeutics’ (CORT) CEO Joe Belanoff on Q1 2016 Results – Earnings …” with publication date: May 04, 2016 was also an interesting one.

CORT Company Profile

Corcept Therapeutics Inc., incorporated on May 13, 1998, is a pharmaceutical firm engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders. The Firm is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR). The Firm also has discovered approximately three structurally distinct series of selective cortisol modulators, all of which share mifepristone’s affinity for GR but, unlike mifepristone, do not bind to the progesterone receptor, and so do not terminate pregnancy or cause other side effects associated with progesterone receptor antagonism. The Firm has begun pre-clinical and clinical development of its lead compounds from these series.

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