Private Advisor Group LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Private Advisor Group LLC acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,863 shares of the biotechnology company’s stock, valued at approximately $327,000.

Several other institutional investors have also modified their holdings of CORT. Parallel Advisors LLC grew its position in Corcept Therapeutics by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company’s stock worth $453,729,000 after buying an additional 142,784 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Corcept Therapeutics by 12.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company’s stock worth $69,381,000 after acquiring an additional 153,100 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Corcept Therapeutics by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company’s stock worth $51,172,000 after acquiring an additional 94,128 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Corcept Therapeutics by 12.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 886,576 shares of the biotechnology company’s stock worth $44,675,000 after purchasing an additional 98,512 shares during the period. Finally, Norges Bank purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at $42,055,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Trading Down 3.9%

Shares of Corcept Therapeutics stock opened at $67.17 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $32.33 and a 1 year high of $117.33. The company has a market cap of $7.12 billion, a P/E ratio of 57.91 and a beta of 0.15. The stock has a 50-day moving average price of $71.81 and a 200 day moving average price of $68.21.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $194.43 million for the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $79.08, for a total transaction of $1,581,600.00. Following the completion of the sale, the insider owned 17,705 shares of the company’s stock, valued at $1,400,111.40. This trade represents a 53.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $78.04, for a total transaction of $390,200.00. Following the transaction, the insider owned 9,009 shares in the company, valued at approximately $703,062.36. This represents a 35.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,038 shares of company stock worth $13,237,621. 20.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CORT shares. HC Wainwright decreased their price target on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Piper Sandler raised their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $138.25.

Corcept Therapeutics 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.