Focus Partners Advisor Solutions LLC Acquires Shares of 6,677 Corcept Therapeutics Incorporated $CORT

Focus Partners Advisor Solutions LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,677 shares of the biotechnology company’s stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CORT. Advisory Services Network LLC purchased a new stake in Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC grew its stake in shares of Corcept Therapeutics by 2,326.3% in the 3rd quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 442 shares during the last quarter. Gould Capital LLC increased its holdings in shares of Corcept Therapeutics by 50.0% in the third quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Torren Management LLC acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $25,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Corcept Therapeutics by 128.5% during the third quarter. CIBC Private Wealth Group LLC now owns 770 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Up 2.4%

NASDAQ:CORT opened at $117.17 on Tuesday. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $122.21. The stock has a market cap of $12.67 billion, a PE ratio of 278.98 and a beta of 0.45. The firm’s fifty day simple moving average is $94.21 and its 200-day simple moving average is $62.59.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.02 by $0.34. The firm had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Piper Sandler restated an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.17.

Insider Activity at Corcept Therapeutics

In other news, CFO Atabak Mokari sold 80,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the completion of the sale, the chief financial officer directly owned 16,130 shares in the company, valued at approximately $1,850,272.30. This trade represents a 83.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $65.59, for a total value of $4,919,250.00. Following the sale, the insider directly owned 8,977 shares in the company, valued at $588,801.43. This trade represents a 89.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 402,876 shares of company stock valued at $35,118,563. 20.70% of the stock is currently owned by corporate insiders.

About Corcept Therapeutics

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.