Is Buying 52-Week Stock Like Corcept Therapeutics Incorporated (CORT) a Winning Strategy?

January 14, 2018 - By Stephen Andrade

Investors sentiment decreased to 1.96 in Q3 2017. Its down 0.47, from 2.43 in 2017Q2. It turned negative, as 13 investors sold Corcept Therapeutics Incorporated shares while 39 reduced holdings. 47 funds opened positions while 55 raised stakes. 71.96 million shares or 6.38% more from 67.64 million shares in 2017Q2 were reported.
Renaissance Tech Limited Liability Com holds 0.08% or 3.67M shares. Virginia Retirement System Et Al holds 108,500 shares. Macquarie Group Ltd invested in 7,100 shares or 0% of the stock. Mckinley Cap Management Limited Liability Corp Delaware owns 308,607 shares. Jaffetilchin Ltd Com holds 0.08% or 17,559 shares. Barclays Public Ltd Company holds 86,475 shares or 0% of its portfolio. Morgan Stanley invested in 0% or 373,585 shares. Castleark Mgmt Limited Com reported 182,252 shares. 1.99 million were reported by Invesco. Moreover, Wealth Architects Ltd Liability Com has 0.11% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 15,815 shares. Principal Group Inc reported 0% stake. 363,363 were accumulated by Wellington Mngmt Group Ltd Liability Partnership. Driehaus Cap Mngmt Ltd Liability holds 28,515 shares. 19,810 are held by Jacobs Levy Equity Inc. Hbk Invests L P owns 0% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 26,594 shares.

Since December 8, 2017, it had 0 buys, and 2 insider sales for $283,125 activity.

The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) hit a new 52-week high and has $22.10 target or 7.00 % above today’s $20.65 share price. The 8 months bullish chart indicates low risk for the $2.36 billion company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $22.10 price target is reached, the company will be worth $164.99 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.

The stock decreased 0.96% or $0.2 during the last trading session, reaching $20.65. About 1.32 million shares traded. Corcept Therapeutics Incorporated (NASDAQ:CORT) has risen 124.81% since January 14, 2017 and is uptrending. It has outperformed by 108.11% the S&P500.

Analysts await Corcept Therapeutics Incorporated (NASDAQ:CORT) to report earnings on March, 5. They expect $0.19 EPS, up 375.00 % or $0.15 from last year’s $0.04 per share. CORT’s profit will be $21.69M for 27.17 P/E if the $0.19 EPS becomes a reality. After $0.11 actual EPS reported by Corcept Therapeutics Incorporated for the previous quarter, Wall Street now forecasts 72.73 % EPS growth.

Corcept Therapeutics Incorporated (NASDAQ:CORT) Ratings Coverage

Among 4 analysts covering Corcept Therapeutics (NASDAQ:CORT), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Corcept Therapeutics has $25.0 highest and $14 lowest target. $20.75’s average target is 0.48% above currents $20.65 stock price. Corcept Therapeutics had 7 analyst reports since February 2, 2017 according to SRatingsIntel. The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) earned “Buy” rating by Piper Jaffray on Wednesday, October 11. As per Thursday, February 2, the company rating was initiated by Ladenburg Thalmann. The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) has “Buy” rating given on Friday, September 8 by Piper Jaffray. Piper Jaffray maintained the shares of CORT in report on Thursday, August 24 with “Buy” rating. The firm earned “Buy” rating on Friday, November 3 by Stifel Nicolaus.

More news for Corcept Therapeutics Incorporated (NASDAQ:CORT) were recently published by: Zacks.com, which released: “Strength Seen in Corcept Therapeutics (CORT): Stock Soars 10.8% December 22, 2017” on December 22, 2017. Livetradingnews.com‘s article titled: “Corcept Therapeutics Incorporated (NASDAQ:CORT) Rises Over 5%” and published on December 27, 2017 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 $2.36 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 71.21 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.

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