389,999 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 389,999 shares of the biotechnology company’s stock, valued at approximately $8,783,000.

Other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 58.4% during the fourth quarter. ProShare Advisors LLC now owns 23,885 shares of the biotechnology company’s stock worth $473,000 after acquiring an additional 8,804 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Corcept Therapeutics by 305.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,101 shares of the biotechnology company’s stock valued at $952,000 after buying an additional 36,251 shares during the period. Parallel Advisors LLC boosted its stake in shares of Corcept Therapeutics by 7.8% in the first quarter. Parallel Advisors LLC now owns 1,944,319 shares of the biotechnology company’s stock valued at $47,014,000 after buying an additional 140,937 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Corcept Therapeutics by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 83,808 shares of the biotechnology company’s stock valued at $1,659,000 after buying an additional 7,702 shares during the period. Finally, S&T Bank PA boosted its stake in shares of Corcept Therapeutics by 5.9% in the fourth quarter. S&T Bank PA now owns 513,827 shares of the biotechnology company’s stock valued at $10,174,000 after buying an additional 28,451 shares during the period. Institutional investors own 80.03% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $28.70 on Friday. The company has a fifty day moving average of $24.72 and a 200-day moving average of $22.79. The company has a market capitalization of $3.05 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.51. Corcept Therapeutics Incorporated has a 52-week low of $15.82 and a 52-week high of $29.93.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biotechnology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The company had revenue of $93.70 million during the quarter, compared to analyst estimates of $103.23 million. Corcept Therapeutics had a net margin of 28.75% and a return on equity of 25.53%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CORT. Truist Financial cut Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Monday, August 1st. They noted that the move was a valuation call. HC Wainwright boosted their price target on Corcept Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $35.00 in a research report on Wednesday, July 27th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Activity at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 279,908 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $26.27, for a total value of $7,353,183.16. Following the completion of the sale, the chief executive officer now directly owns 2,538,218 shares in the company, valued at $66,678,986.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 6,127 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $19.57, for a total transaction of $119,905.39. Following the sale, the insider now owns 36,446 shares of the company’s stock, valued at $713,248.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph K. Belanoff sold 279,908 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $26.27, for a total transaction of $7,353,183.16. Following the sale, the chief executive officer now directly owns 2,538,218 shares in the company, valued at approximately $66,678,986.86. The disclosure for this sale can be found here. Insiders sold 384,780 shares of company stock worth $9,889,303 over the last three months. Company insiders own 16.50% of the company’s stock.

Corcept Therapeutics Profile

(Get Rating)

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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