Corcept Therapeutics Incorporated $CORT Shares Purchased by F m Investments LLC

F m Investments LLC raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 122.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,894 shares of the biotechnology company’s stock after buying an additional 36,207 shares during the period. F m Investments LLC’s holdings in Corcept Therapeutics were worth $2,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Torren Management LLC acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new position in Corcept Therapeutics during the third quarter valued at approximately $25,000. Clearstead Advisors LLC lifted its position in Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 193 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Corcept Therapeutics by 598.5% during the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 395 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Corcept Therapeutics by 2,326.3% during the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 442 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Up 2.4%

NASDAQ CORT opened at $52.28 on Friday. The company’s fifty day simple moving average is $40.09 and its 200-day simple moving average is $53.80. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $91.00. The stock has a market cap of $5.61 billion, a P/E ratio of 149.38 and a beta of 0.36.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The company had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. On average, research analysts expect that Corcept Therapeutics Incorporated will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on CORT shares. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Finally, Piper Sandler boosted their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.67.

Insider Buying and Selling

In related news, Director G Leonard Baker, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the purchase, the director owned 1,146,631 shares in the company, valued at approximately $37,999,351.34. This represents a 9.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 26,198 shares of Corcept Therapeutics stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the completion of the sale, the chief executive officer owned 2,918,326 shares of the company’s stock, valued at approximately $146,120,582.82. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 86,198 shares of company stock worth $3,887,769. Insiders own 20.70% of the company’s stock.

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.