SG Americas Securities LLC Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

SG Americas Securities LLC grew its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 19.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,184 shares of the biotechnology company’s stock after buying an additional 1,353 shares during the period. SG Americas Securities LLC’s holdings in Corcept Therapeutics were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CORT. Park Place Capital Corp acquired a new position in Corcept Therapeutics in the second quarter valued at about $32,000. Atwood & Palmer Inc. acquired a new position in shares of Corcept Therapeutics in the 2nd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $36,000. GAMMA Investing LLC increased its holdings in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 579 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $47,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $30.39, for a total value of $334,290.00. Following the transaction, the insider now owns 20,203 shares of the company’s stock, valued at $613,969.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $30.39, for a total value of $334,290.00. Following the completion of the transaction, the insider now directly owns 20,203 shares of the company’s stock, valued at $613,969.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.21, for a total transaction of $66,462.00. The disclosure for this sale can be found here. In the last three months, insiders sold 35,550 shares of company stock valued at $1,178,759. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

CORT stock opened at $34.79 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $39.75. The firm has a market capitalization of $3.62 billion, a P/E ratio of 32.82 and a beta of 0.44. The business’s 50-day moving average is $32.97 and its two-hundred day moving average is $28.14.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 39.1% compared to the same quarter last year. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler raised their price target on Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a research report on Monday, June 17th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, HC Wainwright upped their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently 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.