Corcept Therapeutics Incorporated (NASDAQ:CORT) Position Boosted by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.2% during the 2nd quarter, Holdings Channel reports. The fund owned 5,266 shares of the biotechnology company’s stock after purchasing an additional 992 shares during the period. Quest Partners LLC’s holdings in Corcept Therapeutics were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in shares of Corcept Therapeutics by 27.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Corcept Therapeutics by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after buying an additional 510 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock worth $4,138,000 after acquiring an additional 541 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares in the last quarter. Finally, Park Place Capital Corp acquired a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.49, for a total transaction of $162,450.00. Following the sale, the insider now directly owns 9,290 shares of the company’s stock, valued at approximately $301,832.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.49, for a total transaction of $162,450.00. Following the transaction, the insider now owns 9,290 shares of the company’s stock, valued at approximately $301,832.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the transaction, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,451 shares of company stock valued at $1,090,844. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 6.7 %

Shares of Corcept Therapeutics stock opened at $38.11 on Monday. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $39.75. The firm has a market capitalization of $3.98 billion, a PE ratio of 35.95 and a beta of 0.45. The stock’s fifty day moving average is $34.36 and its 200-day moving average is $29.44.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Analysts expect that Corcept Therapeutics Incorporated will post 1.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CORT shares. HC Wainwright upped their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Piper Sandler lifted their target price on Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Truist Financial reissued a “buy” rating and issued a $65.00 price target on shares of Corcept Therapeutics in a report on Monday, June 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $46.50.

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.