Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8,176.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 603,903 shares of the biotechnology company’s stock after buying an additional 596,606 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.57% of Corcept Therapeutics worth $68,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Corcept Therapeutics by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock valued at $909,000 after acquiring an additional 230 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 257 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock worth $426,000 after purchasing an additional 268 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Corcept Therapeutics by 102.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 313 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Corcept Therapeutics by 13.7% in the 1st quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company’s stock valued at $389,000 after buying an additional 411 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $78.04, for a total transaction of $390,200.00. Following the completion of the transaction, the insider directly owned 9,009 shares of the company’s stock, valued at approximately $703,062.36. The trade was a 35.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the sale, the chief executive officer owned 2,901,985 shares in the company, valued at $240,458,477.10. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,038 shares of company stock worth $13,237,621 over the last three months. Company insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $69.00 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $32.33 and a fifty-two week high of $117.33. The company has a 50 day moving average price of $71.62 and a 200 day moving average price of $68.33. The stock has a market capitalization of $7.32 billion, a P/E ratio of 61.06 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $194.43 million during the quarter, compared to analysts’ expectations of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 19.86%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CORT. HC Wainwright decreased their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Piper Sandler reduced their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday. Canaccord Genuity Group lowered their price objective on shares of Corcept Therapeutics from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $134.50.

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.