Bridge City Capital LLC Purchases 10,324 Shares of Corcept Therapeutics Incorporated $CORT

Bridge City Capital LLC raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 53.7% in the fourth quarter, HoldingsChannel reports. The fund owned 29,535 shares of the biotechnology company’s stock after acquiring an additional 10,324 shares during the period. Bridge City Capital LLC’s holdings in Corcept Therapeutics were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CORT. Atlas Capital Advisors Inc. bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $31,000. The Manufacturers Life Insurance Company boosted its stake in shares of Corcept Therapeutics by 4.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,139 shares of the biotechnology company’s stock valued at $770,000 after buying an additional 903 shares during the period. Morgan Stanley boosted its stake in shares of Corcept Therapeutics by 34.1% in the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock valued at $55,404,000 after buying an additional 405,081 shares during the period. State Street Corp boosted its stake in shares of Corcept Therapeutics by 0.5% in the fourth quarter. State Street Corp now owns 2,986,056 shares of the biotechnology company’s stock valued at $103,915,000 after buying an additional 15,656 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Corcept Therapeutics by 31.4% in the fourth quarter. Van ECK Associates Corp now owns 160,964 shares of the biotechnology company’s stock valued at $5,602,000 after buying an additional 38,487 shares during the period. Institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $70.60, for a total transaction of $1,412,000.00. Following the completion of the transaction, the insider directly owned 3,985 shares in the company, valued at $281,341. The trade was a 83.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph K. Belanoff sold 26,198 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the transaction, the chief executive officer owned 2,918,326 shares of the company’s stock, valued at approximately $146,120,582.82. This represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 242,965 shares of company stock valued at $14,802,964. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CORT shares. Piper Sandler boosted their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. HC Wainwright boosted their price target on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, UBS Group set a $135.00 price target on Corcept Therapeutics in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Corcept Therapeutics Price Performance

Shares of CORT opened at $82.91 on Friday. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $91.00. The company has a market cap of $8.90 billion, a P/E ratio of 236.89 and a beta of 0.50. The firm has a 50 day simple moving average of $55.70 and a two-hundred day simple moving average of $52.26.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The firm had revenue of $164.90 million for the quarter, compared to analyst estimates of $185.83 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that Corcept Therapeutics Incorporated will post 0.62 earnings per share for the current fiscal year.

Corcept Therapeutics Company 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.