Y Intercept Hong Kong Ltd Has $2.98 Million Holdings in Corcept Therapeutics Incorporated $CORT

Y Intercept Hong Kong Ltd lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 72.0% during the 3rd quarter, HoldingsChannel reports. The fund 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.

A number of other institutional investors and hedge funds have also bought and sold shares of CORT. Golden State Wealth Management LLC acquired a new stake in shares of Corcept Therapeutics during the second quarter valued at about $28,000. Huntington National Bank boosted its position in Corcept Therapeutics by 54.0% during the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after buying an additional 168 shares during the period. Employees Retirement System of Texas acquired a new position in Corcept Therapeutics in the 2nd quarter valued at approximately $52,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the second quarter valued at $56,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Corcept Therapeutics during the third quarter worth $56,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Truist Financial set a $50.00 price objective on Corcept Therapeutics in a research report on Wednesday, December 31st. HC Wainwright upped their target price on Corcept Therapeutics from $90.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 target price for the company. in a research report on Wednesday, December 31st. Finally, Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.50.

Corcept Therapeutics Trading Down 1.6%

Shares of Corcept Therapeutics stock opened at $44.89 on Tuesday. The stock has a market capitalization of $4.72 billion, a PE ratio of 50.88 and a beta of 0.23. Corcept Therapeutics Incorporated has a 52 week low of $32.99 and a 52 week high of $117.33. The stock has a 50 day moving average price of $64.65 and a two-hundred day moving average price of $70.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14.

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

Insider Activity

In related news, insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $35.18, for a total transaction of $703,600.00. Following the completion of the sale, the insider directly owned 1,235 shares of the company’s stock, valued at approximately $43,447.30. This trade represents a 94.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at $628,526.08. This trade represents a 71.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 194,500 shares of company stock valued at $14,186,410. 20.80% of the stock is currently owned by company insiders.

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.