Wealth Enhancement Advisory Services LLC Buys 5,693 Shares of Corcept Therapeutics Incorporated $CORT

Wealth Enhancement Advisory Services LLC raised its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 71.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,647 shares of the biotechnology company’s stock after purchasing an additional 5,693 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Corcept Therapeutics were worth $986,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Focus Partners Wealth raised its position in Corcept Therapeutics by 0.5% in the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock valued at $3,797,000 after purchasing an additional 170 shares during the last quarter. Brooklyn Investment Group raised its position in Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 186 shares during the last quarter. Evergreen Capital Management LLC raised its position in Corcept Therapeutics by 3.8% in the first quarter. Evergreen Capital Management LLC now owns 7,158 shares of the biotechnology company’s stock valued at $818,000 after purchasing an additional 265 shares during the last quarter. GAMMA Investing LLC raised its position in Corcept Therapeutics by 13.7% in the first quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company’s stock valued at $389,000 after purchasing an additional 411 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in Corcept Therapeutics by 0.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 63,692 shares of the biotechnology company’s stock valued at $7,275,000 after purchasing an additional 468 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Piper Sandler lowered their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $135.25.

Insider Activity

In other news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the completion of the sale, the insider owned 7,681 shares in the company, valued at $541,433.69. The trade was a 72.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $70.53, for a total value of $2,821,200.00. Following the sale, the chief executive officer owned 2,821,370 shares of the company’s stock, valued at approximately $198,991,226.10. This represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,810 shares of company stock valued at $15,542,942. Corporate insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $84.25 on Thursday. The company has a market cap of $8.88 billion, a P/E ratio of 74.56 and a beta of 0.46. The stock has a 50 day simple moving average of $73.07 and a two-hundred day simple moving average of $71.72. Corcept Therapeutics Incorporated has a fifty-two week low of $42.01 and a fifty-two week high of $117.33.

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, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.