Y Intercept Hong Kong Ltd Purchases 15,033 Shares of Corcept Therapeutics Incorporated $CORT

Y Intercept Hong Kong Ltd grew its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 72.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,901 shares of the biotechnology company’s stock after purchasing an additional 15,033 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Corcept Therapeutics were worth $2,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust raised its stake in Corcept Therapeutics by 4.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 158,142 shares of the biotechnology company’s stock worth $13,143,000 after buying an additional 7,236 shares during the period. Bailard Inc. acquired a new stake in shares of Corcept Therapeutics during the third quarter worth about $225,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Corcept Therapeutics by 52.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,749 shares of the biotechnology company’s stock valued at $1,874,000 after purchasing an additional 7,102 shares during the period. Amalgamated Bank raised its holdings in Corcept Therapeutics by 3.3% during the 3rd quarter. Amalgamated Bank now owns 31,608 shares of the biotechnology company’s stock worth $2,627,000 after buying an additional 1,011 shares during the period. Finally, Oak Ridge Investments LLC lifted its stake in Corcept Therapeutics by 9.3% in the third quarter. Oak Ridge Investments LLC now owns 25,500 shares of the biotechnology company’s stock valued at $2,119,000 after buying an additional 2,177 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.53, for a total transaction of $397,650.00. Following the completion of the transaction, the insider owned 10,277 shares of the company’s stock, valued at approximately $817,329.81. The trade was a 32.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $35.18, for a total value of $703,600.00. Following the sale, the insider owned 1,235 shares of the company’s stock, valued at approximately $43,447.30. This represents a 94.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 194,500 shares of company stock worth $14,186,410. 20.80% of the stock is owned by company insiders.

Corcept Therapeutics Stock Performance

CORT opened at $44.89 on Tuesday. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12-month low of $32.99 and a 12-month high of $117.33. The business has a 50 day moving average of $64.65 and a 200-day moving average of $70.93. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 50.88 and a beta of 0.23.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The firm had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. During the same quarter last year, the business posted $0.41 EPS. Corcept Therapeutics’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, UBS Group began coverage on Corcept Therapeutics in a research report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price target for the company. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.50.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.