Concurrent Investment Advisors LLC Purchases 5,280 Shares of Corcept Therapeutics Incorporated $CORT

Concurrent Investment Advisors LLC boosted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 65.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,380 shares of the biotechnology company’s stock after purchasing an additional 5,280 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $1,163,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Corcept Therapeutics in the second quarter worth $1,080,964,000. First Trust Advisors LP boosted its stake in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the period. AQR Capital Management LLC boosted its stake in Corcept Therapeutics by 546.9% during the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after buying an additional 1,274,215 shares during the period. Geode Capital Management LLC grew its position in Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after buying an additional 734,646 shares in the last quarter. Finally, Norges Bank purchased a new position in Corcept Therapeutics during the fourth quarter worth about $24,213,000. 93.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.43, for a total transaction of $2,860,750.00. Following the transaction, the insider directly owned 9,755 shares of the company’s stock, valued at approximately $1,116,264.65. The trade was a 71.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Roberto Vieira sold 58,333 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the transaction, the insider directly owned 4,242 shares in the company, valued at approximately $469,843.92. The trade was a 93.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 496,119 shares of company stock worth $54,171,553. 20.70% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $114.92 on Friday. The company has a fifty day moving average of $106.19 and a 200-day moving average of $72.27. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 273.63 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. The firm had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research report on Monday, July 27th. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.17.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering and developing medicines that modulate the effects of the stress hormone cortisol. The company’s research centers on the glucocorticoid receptor, which regulates cortisol activity and may play a role in metabolic, psychiatric, oncologic and other serious diseases.

Corcept’s commercial product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.