The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high and has $13.37 target or 65.00% above today’s $8.10 share price. The 6 months bullish chart indicates low risk for the $969.39 million company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $13.37 price target is reached, the company will be worth $630.10 million 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 465,490 shares traded hands or 17.69% up from the average. Corcept Therapeutics Incorporated (NASDAQ:CORT) has risen 59.11% since April 1, 2016 and is uptrending. It has outperformed by 57.90% the S&P500.
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 improved, 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.
Panagora Asset last reported 0% of its portfolio in the stock. Blackrock Fund holds 1.94M shares or 0% of its portfolio. Alliancebernstein Limited Partnership has 0% invested in the company for 223,320 shares. Globeflex Limited Partnership holds 244,483 shares or 0.37% of its portfolio. Invesco, a Georgia-based fund reported 1.34M shares. Cambridge Trust Company has 0.02% invested in the company for 40,000 shares. Gabelli Secs owns 95,500 shares or 0.07% of their US portfolio. Voya Inv Management Ltd Liability Co last reported 28,453 shares in the company. Stevens Cap Mgmt Limited Partnership has invested 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). Millennium Limited Liability accumulated 211,724 shares or 0% of the stock. Analytic Investors Ltd Liability Corp owns 98,729 shares or 0.01% of their US portfolio. Campbell & Co Adviser Ltd has 0.43% invested in the company for 15,794 shares. State Street Corp holds 1.16M shares or 0% of its portfolio. Citigroup holds 15,983 shares or 0% of its portfolio. Driehaus Cap Mgmt Lc owns 102,657 shares or 0.02% of their US portfolio.
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: Cushing’s Syndrome Is Just The Beginning” with publication date: October 11, 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.