Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,988 shares of the biotechnology company’s stock after buying an additional 10,248 shares during the period. Captrust Financial Advisors owned 0.11% of Corcept Therapeutics worth $5,744,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in Corcept Therapeutics by 1.0% in the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock valued at $10,998,000 after acquiring an additional 2,475 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Corcept Therapeutics by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock valued at $11,712,000 after purchasing an additional 76,573 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Corcept Therapeutics by 20.3% in the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 506 shares during the period. Burney Co. grew its stake in Corcept Therapeutics by 9.1% during the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after buying an additional 39,657 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Corcept Therapeutics during the fourth quarter worth approximately $54,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CORT has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. HC Wainwright decreased their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday. Finally, StockNews.com raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $138.25.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 18,303 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the sale, the insider now directly owns 85,622 shares in the company, valued at $5,196,399.18. The trade was a 17.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,738 shares of company stock worth $20,476,238. Corporate insiders own 20.80% of the company’s stock.

Corcept Therapeutics Trading Up 1.3 %

Shares of Corcept Therapeutics stock opened at $71.39 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 56.66 and a beta of 0.22. Corcept Therapeutics Incorporated has a 52-week low of $25.35 and a 52-week high of $117.33. The company’s 50-day simple moving average is $66.58 and its 200-day simple moving average is $60.64.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same period in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.