Atlas Capital Advisors Inc. Invests $550,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Atlas Capital Advisors Inc. purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,905 shares of the biotechnology company’s stock, valued at approximately $550,000.

Several other institutional investors have also added to or reduced their stakes in CORT. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $27,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the fourth quarter worth about $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics during the fourth quarter worth approximately $58,000. Finally, Principal Securities Inc. raised its position in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CORT shares. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright raised their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Truist Financial lifted their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Finally, Piper Sandler raised their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $74.45 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14. The firm has a 50-day moving average of $64.81 and a two-hundred day moving average of $56.28. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares in the company, valued at $8,608,435.88. This represents a 53.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the sale, the chief executive officer now owns 3,019,411 shares of the company’s stock, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,124 shares of company stock valued at $15,074,318. 20.50% of the stock is currently owned by corporate insiders.

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.