Corcept Therapeutics Incorporated (CORT) on Focus After Forming Wedge Down

November 10, 2018 - By Ash

Corcept Therapeutics Incorporated (NASDAQ:CORT) Logo

Investors sentiment decreased to 1.18 in Q2 2018. Its down 0.10, from 1.28 in 2018Q1. It turned negative, as 23 investors sold Corcept Therapeutics Incorporated shares while 59 reduced holdings. 33 funds opened positions while 64 raised stakes. 85.22 million shares or 0.46% more from 84.82 million shares in 2018Q1 were reported.
State Street Corporation invested 0% in Corcept Therapeutics Incorporated (NASDAQ:CORT). Ameriprise Financial Incorporated owns 564,236 shares for 0% of their portfolio. 22,324 are owned by Piedmont Investment Advsr Llc. Tiaa Cref Investment Mgmt Ltd holds 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 356,247 shares. Mason Street Advisors Ltd Limited Liability Company holds 0.01% in Corcept Therapeutics Incorporated (NASDAQ:CORT) or 27,620 shares. Crow Point Ptnrs Limited Liability Corporation, a Massachusetts-based fund reported 16,306 shares. Mckinley Cap Ltd Llc Delaware reported 6,255 shares or 0.01% of all its holdings. Bridgeway Capital Mgmt holds 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 31,000 shares. Gsa Capital Ptnrs Limited Liability Partnership invested in 109,382 shares or 0.09% of the stock. U S Glob Investors Inc invested 0.68% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). Massmutual Fsb Adv owns 0% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 103 shares. Susquehanna Interest Grp Incorporated Ltd Liability Partnership accumulated 25,670 shares. Vanguard stated it has 0.01% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). Great West Life Assurance Can reported 122,753 shares stake. Royal Bankshares Of Canada stated it has 1,000 shares.

Since May 11, 2018, it had 3 insider purchases, and 3 selling transactions for $3.64 million activity. On Friday, July 6 the insider FISHMAN ROBERT S sold $120,686.

The stock of Corcept Therapeutics Incorporated (CORT) formed a down wedge with $12.10 target or 7.00 % below today’s $13.01 share price. The 6 months wedge indicates high risk for the $1.50 billion company. If the $12.10 price target is reached, the company will be worth $105.14 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 2.77% or $0.37 during the last trading session, reaching $13.01. About 1.23M shares traded. Corcept Therapeutics Incorporated (NASDAQ:CORT) has declined 21.11% since November 10, 2017 and is downtrending. It has underperformed by 36.73% the S&P500.

Corcept Therapeutics Incorporated (NASDAQ:CORT) Ratings Coverage

Among 3 analysts covering Corcept Therapeutics Inc (NASDAQ:CORT), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Corcept Therapeutics Inc had 5 analyst reports since May 31, 2018 according to SRatingsIntel. As per Thursday, May 31, the company rating was downgraded by Stifel Nicolaus. On Tuesday, June 19 the stock rating was maintained by FBR Capital with “Buy”. FBR Capital maintained the stock with “Buy” rating in Monday, August 13 report. The stock has “Buy” rating by FBR Capital on Tuesday, June 12.

More news for Corcept Therapeutics Incorporated (NASDAQ:CORT) were recently published by: Seekingalpha.com, which released: “Corcept Therapeutics Incorporated (CORT) CEO Joseph Belanoff on Q3 2018 Results – Earnings Call Transcript” on November 02, 2018. Nasdaq.com‘s article titled: “Report: Exploring Fundamental Drivers Behind Corcept Therapeutics, News Corporation, Nightstar Therapeutics PLC …” and published on October 23, 2018 is yet another important article.

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 has market cap of $1.50 billion. It offers Korlym tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery. It has a 11.18 P/E ratio. The firm is also developing Korlym in combination with eribulin, which is in Phase I/II clinical trial to treat patients with metastatic triple-negative breast cancer; Korlym in combination with drug Abraxane that is in Phase II clinical trial to treat patients with triple-negative breast cancer; and Korlym combined with the androgen deprivation agent enzalutamide, which is in Phase II clinical trial to treat patients with metastatic castration-resistant prostate cancer.

Corcept Therapeutics Incorporated (NASDAQ:CORT) Institutional Positions Chart

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