Corcept Therapeutics Incorporated (CORT) Short Interest Update

Corcept Therapeutics Incorporated (NASDAQ:CORT) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 18,122,510 shares, a growth of 8.0% from the July 13th total of 16,779,082 shares. Currently, 17.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,226,071 shares, the days-to-cover ratio is currently 14.8 days.

CORT stock opened at $13.26 on Friday. Corcept Therapeutics has a one year low of $11.55 and a one year high of $25.96. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 30.14 and a beta of 1.70.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, August 9th. The biotechnology company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Corcept Therapeutics had a net margin of 75.05% and a return on equity of 46.78%. The firm had revenue of $62.31 million for the quarter, compared to analysts’ expectations of $68.49 million. During the same period in the prior year, the company posted $0.13 earnings per share. Corcept Therapeutics’s quarterly revenue was up 75.2% compared to the same quarter last year. equities research analysts predict that Corcept Therapeutics will post 0.73 EPS for the current fiscal year.

In other Corcept Therapeutics news, insider Robert S. Fishman sold 8,000 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $15.09, for a total transaction of $120,720.00. Following the completion of the sale, the insider now directly owns 8,000 shares of the company’s stock, valued at $120,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 24,000 shares of company stock valued at $379,760 over the last ninety days. Insiders own 15.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Corcept Therapeutics by 10.0% in the second quarter. BlackRock Inc. now owns 14,199,726 shares of the biotechnology company’s stock worth $223,220,000 after purchasing an additional 1,294,562 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Corcept Therapeutics by 0.5% in the first quarter. Federated Investors Inc. PA now owns 12,686,727 shares of the biotechnology company’s stock worth $208,697,000 after purchasing an additional 62,715 shares in the last quarter. Ingalls & Snyder LLC lifted its position in shares of Corcept Therapeutics by 7.3% in the second quarter. Ingalls & Snyder LLC now owns 7,316,990 shares of the biotechnology company’s stock worth $115,023,000 after purchasing an additional 499,450 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Corcept Therapeutics by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,653,862 shares of the biotechnology company’s stock worth $25,999,000 after purchasing an additional 77,213 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Corcept Therapeutics by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,197,952 shares of the biotechnology company’s stock worth $18,831,000 after purchasing an additional 11,001 shares in the last quarter. 76.52% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on CORT shares. Zacks Investment Research raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Friday, April 27th. BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, April 20th. ValuEngine raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. Finally, Stifel Nicolaus lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research note on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.40.

About Corcept Therapeutics

Corcept Therapeutics Incorporated, a pharmaceutical company, 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

Further Reading: Book Value Per Share – BVPS

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