Corcept Therapeutics Incorporated $CORT Shares Newly Acquired by Range Financial Group LLC

Range Financial Group LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,136 shares of the biotechnology company’s stock, valued at approximately $1,283,000.

Several other hedge funds also recently bought and sold shares of CORT. BlackRock Inc. purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $1,080,964,000. Parallel Advisors LLC boosted its position in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock worth $160,329,000 after purchasing an additional 96,763 shares during the period. First Trust Advisors LP boosted its position in shares of Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after purchasing an additional 1,480,059 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Corcept Therapeutics during the 2nd quarter worth approximately $49,185,000. Finally, Bank of America Corp DE acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $28,569,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, CFO Atabak Mokari sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the sale, the chief financial officer directly owned 16,130 shares of the company’s stock, valued at $1,850,272.30. This represents a 83.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 30,955 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the sale, the insider owned 9,755 shares in the company, valued at approximately $1,225,032.90. This trade represents a 76.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 454,748 shares of company stock valued at $52,786,210. 20.70% of the stock is owned by corporate insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $116.45 on Wednesday. The firm has a market capitalization of $12.59 billion, a PE ratio of 277.27 and a beta of 0.40. The firm’s 50-day moving average is $115.70 and its two-hundred day moving average is $88.06. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts expect that Corcept Therapeutics Incorporated will post 1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CORT shares. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. HC Wainwright restated a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a research note on Friday, September 18th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research report on Monday, July 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Finally, Zacks Research raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.