Assetmark Inc. Purchases 17,372 Shares of Corcept Therapeutics Incorporated $CORT

Assetmark Inc. grew its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 26.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,098 shares of the biotechnology company’s stock after buying an additional 17,372 shares during the period. Assetmark Inc. owned 0.08% of Corcept Therapeutics worth $2,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Corcept Therapeutics during the third quarter worth $25,000. Clearstead Advisors LLC raised its stake in Corcept Therapeutics by 163.6% in the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 193 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Corcept Therapeutics by 598.5% in the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 395 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Corcept Therapeutics by 2,326.3% in the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 442 shares in the last quarter. Finally, Gould Capital LLC grew its stake in shares of Corcept Therapeutics by 50.0% during the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

CORT has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Wolfe Research raised shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. Finally, Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.67.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director G Leonard Baker, Jr. bought 100,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the purchase, the director directly owned 1,146,631 shares of the company’s stock, valued at $37,999,351.34. This represents a 9.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $40.97, for a total value of $819,400.00. Following the sale, the insider directly owned 2,231 shares in the company, valued at approximately $91,404.07. This trade represents a 89.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 86,198 shares of company stock worth $3,668,569. Insiders own 20.80% of the company’s stock.

Key Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Negative Sentiment: Hagens Berman warns investors following an alleged FDA rejection and a federal court patent loss, claiming management concealed repeated FDA warnings while promoting the pipeline — this is the most specific complaint and could increase litigation risk and potential liabilities for CORT. CORT SHAREHOLDER ALERT: Hagens Berman Alerts Corcept Therapeutics (CORT) Investors
• Negative Sentiment: Multiple national plaintiff firms (Rosen, Bronstein Gewirtz & Grossman, The Gross Law Firm, Pomerantz, Schall, ClaimsFiler, Frank R. Cruz and others) have issued notices or filed suit urging investors to apply for lead‑plaintiff status and/or join the class action covering the same class period; the concentrated outreach increases visibility and the likelihood of consolidated litigation. CORT FINAL DEADLINE: ROSEN…Encourages Corcept Investors to Secure Counsel Bronstein, Gewirtz & Grossman LLC Urges Corcept Investors to Act
• Negative Sentiment: An institutional holder, Campbell Newman Asset Management, disclosed a 52.3% reduction in its CORT stake (sold 18,599 shares) in a 13F filing — an outsized position cut that may reflect portfolio rebalancing or reduced conviction and could exert modest selling pressure. Campbell Newman Asset Management Inc. Sells 18,599 Shares of Corcept Therapeutics

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $46.16 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.85 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $91.00. The company has a 50 day simple moving average of $37.93 and a two-hundred day simple moving average of $56.71. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 56.29 and a beta of 0.25.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The business had revenue of $202.13 million during the quarter, compared to analysts’ expectations of $254.94 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Corcept Therapeutics Profile

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.