Today’s Research Reports on Stocks to Watch: Array Biopharma and Corcept Therapeutics

NEW YORK, NY / ACCESSWIRE / March 17, 2017 /
Array Biopharma and Corcept Therapeutics are two companies whose stock prices both fell on Thursday, following the trend of the general market. Both stocks are trading near the $10 per share level with similar market cap range, but the insider and institutional investor activity can be described as different as night and day. During the week, both stocks showed similar price movement patterns. Current stockholders and potential buyers both can learn from the price movements as they relate to each company’s internal activity.

RDI Initiates
Coverage:

Array Biopharma Inc. https://ub.rdinvesting.com/news/?ticker=ARRY

Corcept Therapeutics
Inc. https://ub.rdinvesting.com/news/?ticker=CORT

Array Biopharma is a biotech company whose main focus is on developing proprietary drugs for the treatment of cancer and inflammatory diseases. The stock traded down 17 cents on Thursday to $10.74 a share. It recently has had a number of institutional investors buying more stock over the last 6 months. Most recently, Putnam Investments LLC raised its stake in Array, buying more than 90,922 shares of stock and Bogle Investment Management increased their holding in the company in February. Mild interest in the company by institutional investors in 2016 spiked dramatically in the 4th quarter, with buyers outnumbering sellers by almost a 3 to 1 margin. The last 5 days saw the stock has risen as high as $11.50 a share, but settled back towards its current price the end of the week. Array’s investment ratings has changed by number of investment research firms in last couple of months, with upgrade from “hold” to “buy” by Zacks, “buy” ratings given by Piper Jaffray and Leerink Swann in January, whereas JP Morgan chase has cut rating to “neutral” in February, Whereas Vetr Inc has recently upgraded stock from “strong sell” to “sell”. Company has made a loss of $0.14 per share on revenue of $44.5 million for the second quarter of fiscal 2017 which is better than consensus call for loss of $0.18 a share, according to Thomson Reuters.

Access RDI’s Array Biopharma Research Report at: https://ub.rdinvesting.com/news/?ticker=ARRY

Corcept Therapeutics saw its stock drop 30 cents a share at the beginning of Thursday’s trading session and struggled to recover. It lost almost 3 percent of its value nearing the end of the day. The company accounted that an SEC filing by Director Patrick G. Enright revealed he sold 600,000 shares of Corcept stock on Wednesday, March 15th leaving him with just over 200,000 shares invested in the company. The sale sliced Mr. Enright’s commitment by 75 percent. This sale follows a late 2016 surge of insider sales that saw more than $50 million leave the firm in the last two quarters of 2016. The last 5 trading days shows a high of $11.22 on Monday, then moving down as the weekend approached. The company has mixed of “sell” and “buy” ratings, with Piper Jaffray recently reiterated “overweight” rating on the stock. Concert has reported loss of $2.28 a share for year 2016 against earnings of $1.09 a share reported in year 2015.

Access RDI’s Corcept Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=CORT

Our Actionable Research on Array Biopharma Inc. (NASDAQ: ARRY) and Corcept Therapeutics Inc. (NASDAQ: CORT) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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