Great Lakes Advisors LLC Purchases New Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Great Lakes Advisors LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 389,999 shares of the biotechnology company’s stock, valued at approximately $8,783,000.

Several other institutional investors have also made changes to their positions in CORT. Los Angeles Capital Management LLC acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $302,000. Camden Capital LLC acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $210,000. IndexIQ Advisors LLC acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $374,000. Royce & Associates LP raised its position in Corcept Therapeutics by 430.0% during the first quarter. Royce & Associates LP now owns 280,381 shares of the biotechnology company’s stock valued at $6,314,000 after purchasing an additional 227,477 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Corcept Therapeutics by 26.7% during the first quarter. Russell Investments Group Ltd. now owns 39,030 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 8,217 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Corcept Therapeutics Trading Up 1.3 %

Shares of CORT opened at $28.70 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.51. The firm’s fifty day simple moving average is $24.72 and its two-hundred day simple moving average is $22.79. Corcept Therapeutics Incorporated has a 12 month low of $15.82 and a 12 month high of $29.93.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The biotechnology company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $93.70 million for the quarter, compared to the consensus estimate 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 was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

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. In other news, insider Sean Maduck sold 25,000 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $27.37, for a total transaction of $684,250.00. Following the transaction, the insider now owns 40,024 shares of the company’s stock, valued at approximately $1,095,456.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Charles Robb sold 6,127 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $19.57, for a total transaction of $119,905.39. Following the transaction, the insider now directly owns 36,446 shares in the company, valued at approximately $713,248.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 384,780 shares of company stock valued at $9,889,303. 16.50% of the stock is currently owned by insiders.

About Corcept Therapeutics

(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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