23,257 Shares in Corcept Therapeutics Incorporated $CORT Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,257 shares of the biotechnology company’s stock, valued at approximately $2,022,000.

A number of other hedge funds also recently bought and sold shares of CORT. Torren Management LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $31,000. State of Wyoming boosted its stake in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 16,300 shares of Corcept Therapeutics stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.43, for a total transaction of $1,848,909.00. Following the completion of the sale, the insider owned 3,985 shares of the company’s stock, valued at approximately $452,018.55. This trade represents a 80.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Atabak Mokari sold 80,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $114.71, for a total value of $9,176,800.00. Following the completion of the transaction, the chief financial officer owned 16,130 shares in the company, valued at $1,850,272.30. This trade represents a 83.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 402,876 shares of company stock valued at $35,118,563 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

CORT has been the topic of several recent analyst reports. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.17.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $114.47 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21. The firm has a market cap of $12.37 billion, a PE ratio of 272.55 and a beta of 0.45. The firm’s 50 day moving average price is $93.34 and its two-hundred day moving average price is $61.97.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.