Today’s Market Runner: What Will Happen to Corcept Therapeutics Incorporated Next? The Stock Just Reaches 52-Week High

Today's Market Runner: What Will Happen to Corcept Therapeutics Incorporated Next? The Stock Just Reaches 52 Week High

The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high and has $11.98 target or 45.00% above today’s $8.26 share price. The 8 months bullish chart indicates low risk for the $910.41M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $11.98 price target is reached, the company will be worth $409.68 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 251,315 shares traded hands. Corcept Therapeutics Incorporated (NASDAQ:CORT) has risen 65.78% since April 7, 2016 and is uptrending. It has outperformed by 61.00% 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 Q2 2016. Its up 0.57, from 1.23 in 2016Q1. The ratio is positive, 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.
Oxford Asset Management last reported 0.02% of its portfolio in the stock. The Vermont-based Birchview L P has invested 0.32% in Corcept Therapeutics Incorporated (NASDAQ:CORT). Nomura Holding last reported 0% of its portfolio in the stock. Invesco Ltd has 1.34M shares for 0% of their US portfolio. Buckingham Asset Limited has 20,000 shares for 0.04% of their US portfolio. Stevens Cap Management Lp has invested 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). Falcon Point Cap Ltd Liability Corporation has invested 0.09% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). Cadence Ltd, a Massachusetts-based fund reported 70,908 shares. Guggenheim Ltd Liability Corporation has 0% invested in the company for 29,791 shares. Principal Fin Group holds 0% or 14,878 shares in its portfolio. Campbell And Communication Inv Adviser Ltd Liability Co has 0.43% invested in the company for 15,794 shares. Hutchin Hill Ltd Partnership last reported 13,200 shares in the company. Vanguard Group Inc owns 2.98 million shares or 0% of their US portfolio. Panagora Asset Mngmt accumulated 10,387 shares or 0% of the stock. Qs Investors Limited Liability Company, a New York-based fund reported 1,013 shares.

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.

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