Mercer Global Advisors Inc. ADV Purchases 10,658 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Mercer Global Advisors Inc. ADV lifted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,801 shares of the biotechnology company’s stock after acquiring an additional 10,658 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Corcept Therapeutics were worth $2,658,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CORT. Mutual of America Capital Management LLC raised its holdings in shares of Corcept Therapeutics by 94.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company’s stock valued at $8,554,000 after purchasing an additional 128,194 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Corcept Therapeutics by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock worth $86,952,000 after buying an additional 108,658 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Corcept Therapeutics by 3.6% during the second quarter. Texas Permanent School Fund Corp now owns 82,287 shares of the biotechnology company’s stock worth $2,674,000 after buying an additional 2,897 shares during the period. Quest Partners LLC boosted its position in Corcept Therapeutics by 23.2% during the 2nd quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 992 shares in the last quarter. Finally, Norden Group LLC increased its holdings in shares of Corcept Therapeutics by 15.8% in the 2nd quarter. Norden Group LLC now owns 135,326 shares of the biotechnology company’s stock valued at $4,397,000 after acquiring an additional 18,476 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CORT shares. HC Wainwright raised their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler increased their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corcept Therapeutics in a research report on Monday, June 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $53.75.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.81, for a total value of $72,182.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The disclosure for this sale can be found here. Insiders have sold a total of 30,451 shares of company stock valued at $1,090,844 in the last ninety days. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $42.25 on Monday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $43.74. The company has a market cap of $4.40 billion, a PE ratio of 39.86 and a beta of 0.45. The business has a 50-day simple moving average of $35.38 and a two-hundred day simple moving average of $30.09.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping 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 company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Corcept Therapeutics’s revenue was up 39.1% compared to the same quarter last year. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current fiscal 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.