Great Lakes Advisors LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Great Lakes Advisors LLC acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 389,999 shares of the biotechnology company’s stock, valued at approximately $8,783,000. Great Lakes Advisors LLC owned approximately 0.37% of Corcept Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd lifted its position in Corcept Therapeutics by 283.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 7,707 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 5,695 shares in the last quarter. Camden Capital LLC acquired a new position in Corcept Therapeutics during the 1st quarter worth approximately $210,000. Rafferty Asset Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $216,000. O Shaughnessy Asset Management LLC increased its holdings in Corcept Therapeutics by 9.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,761 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 973 shares during the last quarter. Finally, Cim LLC purchased a new stake in Corcept Therapeutics during the 1st quarter worth approximately $234,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $27.37, for a total value of $684,250.00. Following the transaction, the insider now owns 40,024 shares in the company, valued at $1,095,456.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sean Maduck sold 25,000 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $27.37, for a total transaction of $684,250.00. Following the completion of the sale, the insider now owns 40,024 shares in the company, valued at approximately $1,095,456.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph K. Belanoff sold 279,908 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $26.27, for a total value of $7,353,183.16. Following the sale, the chief executive officer now owns 2,538,218 shares of the company’s stock, valued at approximately $66,678,986.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 384,780 shares of company stock valued at $9,889,303. Company insiders own 16.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CORT. HC Wainwright lifted their price objective on Corcept Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, August 1st. They noted that the move was a valuation call. Jefferies Financial Group upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating and boosted their price target 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $28.70 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $15.82 and a 1 year high of $29.93. The stock has a fifty day moving average of $24.72 and a two-hundred day moving average of $22.79. The firm has a market capitalization of $3.05 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The biotechnology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $93.70 million during the quarter, compared to analyst estimates of $103.23 million. Corcept Therapeutics had a net margin of 28.75% and a return on equity of 25.53%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. Equities research analysts predict that Corcept Therapeutics Incorporated will post 0.87 earnings per share for the current fiscal year.

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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