What’s Next for Corcept Therapeutics Incorporated (CORT) After Forming Bearish H&S Chart Pattern?

April 17, 2018 - By Stephen Andrade

Corcept Therapeutics Incorporated (NASDAQ:CORT) Logo

Investors sentiment decreased to 1.49 in Q4 2017. Its down 0.47, from 1.96 in 2017Q3. It turned negative, as 30 investors sold Corcept Therapeutics Incorporated shares while 42 reduced holdings. 40 funds opened positions while 67 raised stakes. 87.40 million shares or 21.46% more from 71.96 million shares in 2017Q3 were reported.
57,063 are owned by Thrivent Fincl For Lutherans. 31,304 are owned by Stone Ridge Asset Mngmt Limited Liability Com. Advisory Research Inc reported 64,423 shares. Moreover, Renaissance Grp Incorporated Ltd Liability Company has 0.01% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 20,381 shares. Bnp Paribas Arbitrage Sa holds 38,584 shares or 0% of its portfolio. Gabelli And Inv Advisers invested in 17,000 shares or 0.04% of the stock. Moreover, Jane Street Gp Ltd Liability has 0% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT). Ameritas Prns owns 8,001 shares for 0.01% of their portfolio. Bridgeway Cap Mgmt owns 0.01% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 36,300 shares. The Wisconsin-based Timpani Cap Mngmt Ltd Company has invested 1.06% in Corcept Therapeutics Incorporated (NASDAQ:CORT). Ubs Asset Mngmt Americas reported 57,249 shares stake. Schwab Charles Investment Mngmt has 0.01% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 480,924 shares. Wellington Management Grp Ltd Liability Partnership has 0% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT). Blackrock has 0.01% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT). Los Angeles & Equity Research holds 149,842 shares.

Since December 8, 2017, it had 1 insider purchase, and 5 insider sales for $515,904 activity. Another trade for 10,000 shares valued at $155,102 was made by GALA RENEE D on Tuesday, March 6.

The stock of Corcept Therapeutics Incorporated (CORT) formed H&S with $15.90 target or 7.00 % below today’s $17.10 share price. The 7 months Head & Shoulders indicates high risk for the $1.96 billion company. It was reported on Apr, 17 by Faxor.com. If the $15.90 price target is reached, the company will be worth $137.48 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 0.71% or $0.12 during the last trading session, reaching $17.1. About 543,603 shares traded. Corcept Therapeutics Incorporated (NASDAQ:CORT) has risen 52.11% since April 17, 2017 and is uptrending. It has outperformed by 40.56% the S&P500.

Analysts await Corcept Therapeutics Incorporated (NASDAQ:CORT) to report earnings on May, 7. They expect $0.20 EPS, up 400.00 % or $0.16 from last year’s $0.04 per share. CORT’s profit will be $22.97 million for 21.38 P/E if the $0.20 EPS becomes a reality. After $0.17 actual EPS reported by Corcept Therapeutics Incorporated for the previous quarter, Wall Street now forecasts 17.65 % EPS growth.

Corcept Therapeutics Incorporated (NASDAQ:CORT) Ratings Coverage

Among 4 analysts covering Corcept Therapeutics Inc (NASDAQ:CORT), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Corcept Therapeutics Inc has $3200 highest and $25.0 lowest target. $29.25’s average target is 71.05% above currents $17.1 stock price. Corcept Therapeutics Inc had 5 analyst reports since November 3, 2017 according to SRatingsIntel. The stock has “Buy” rating by FBR Capital on Thursday, March 8. The company was initiated on Friday, April 13 by Seaport Global. The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) earned “Buy” rating by Stifel Nicolaus on Friday, November 3. The firm earned “Buy” rating on Tuesday, March 20 by FBR Capital.

Corcept Therapeutics Incorporated (NASDAQ:CORT) Institutional Positions Chart

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.