Eagle Rock Investment Company LLC Invests $343,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Eagle Rock Investment Company LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 1st quarter, Holdings Channel.com reports. The fund acquired 3,000 shares of the biotechnology company’s stock, valued at approximately $343,000.

Other large investors also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 313 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $42,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $58,000. Institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

CORT has been the subject of several research reports. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Piper Sandler raised their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report 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 report on Tuesday, May 6th. Finally, Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.25.

Corcept Therapeutics Stock Up 0.9%

Corcept Therapeutics stock opened at $69.60 on Friday. The company has a fifty day simple moving average of $72.03 and a 200 day simple moving average of $63.83. Corcept Therapeutics Incorporated has a 1-year low of $28.04 and a 1-year high of $117.33. The company has a market cap of $7.38 billion, a P/E ratio of 55.24 and a beta of 0.22. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 421 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph K. Belanoff sold 1,974 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.83, for a total transaction of $120,078.42. Following the transaction, the chief executive officer now owns 3,017,437 shares in the company, valued at $183,550,692.71. This represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,125 shares of company stock worth $28,905,496 in the last ninety days. Insiders own 20.80% of the company’s stock.

Corcept Therapeutics Company Profile

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.