Brown Capital Management LLC Makes New $19.95 Million Investment in Corcept Therapeutics Incorporated $CORT

Brown Capital Management LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 240,047 shares of the biotechnology company’s stock, valued at approximately $19,950,000. Brown Capital Management LLC owned approximately 0.23% of Corcept Therapeutics at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Huntington National Bank grew its position in Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 168 shares during the last quarter. Campbell Newman Asset Management Inc. lifted its stake in shares of Corcept Therapeutics by 0.5% in the third quarter. Campbell Newman Asset Management Inc. now owns 35,530 shares of the biotechnology company’s stock worth $2,953,000 after buying an additional 170 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Corcept Therapeutics by 1.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,951 shares of the biotechnology company’s stock valued at $730,000 after buying an additional 180 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Corcept Therapeutics by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock valued at $3,237,000 after buying an additional 200 shares during the last quarter. Finally, Intellectus Partners LLC increased its position in shares of Corcept Therapeutics by 0.5% during the second quarter. Intellectus Partners LLC now owns 42,251 shares of the biotechnology company’s stock valued at $3,101,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group initiated coverage on Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective on the stock. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Hold” and a consensus target price of $83.50.

Corcept Therapeutics Stock Performance

CORT stock opened at $40.71 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. Corcept Therapeutics Incorporated has a 1 year low of $32.99 and a 1 year high of $117.33. The company has a market cap of $4.28 billion, a P/E ratio of 46.26 and a beta of 0.25. The stock’s fifty day moving average price is $61.37 and its 200-day moving average price is $69.91.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $207.64 million during the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $35.18, for a total value of $703,600.00. Following the transaction, the insider owned 1,235 shares in the company, valued at $43,447.30. This represents a 94.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at approximately $628,526.08. The trade was a 71.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 158,282 shares of company stock worth $11,507,330 over the last 90 days. 20.50% of the stock is owned by company insiders.

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.