Jupiter Topco LLC Invests $12.06 Million in Corcept Therapeutics Incorporated $CORT

Jupiter Topco LLC acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 138,743 shares of the biotechnology company’s stock, valued at approximately $12,062,000.

A number of other institutional investors also recently bought and sold shares of CORT. Pathstone Holdings LLC lifted its position in Corcept Therapeutics by 0.8% during the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock valued at $1,497,000 after purchasing an additional 144 shares in the last quarter. State of Wyoming increased its position in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after buying an additional 186 shares in the last quarter. Gould Capital LLC raised its stake 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 worth $50,000 after buying an additional 200 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Corcept Therapeutics by 3.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 247 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Corcept Therapeutics by 3.4% during the 4th quarter. Deutsche Bank AG now owns 8,446 shares of the biotechnology company’s stock valued at $294,000 after acquiring an additional 279 shares during the period. 93.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CORT has been the subject of several analyst reports. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Finally, HC Wainwright increased their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $113.88 on Friday. The company has a market cap of $12.31 billion, a P/E ratio of 271.15 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38. The firm’s fifty day moving average is $101.17 and its two-hundred day moving average is $67.37.

Corcept Therapeutics (NASDAQ:CORT) last released 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 business had revenue of $256.15 million during the quarter, compared to the consensus estimate 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 was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.77 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 30,955 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the completion of the transaction, the insider owned 9,755 shares in the company, valued at $1,225,032.90. This trade represents a 76.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00. Following the completion of the sale, the insider directly owned 3,985 shares in the company, valued at approximately $281,341. The trade was a 83.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 497,786 shares of company stock valued at $50,817,090 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Corcept Therapeutics Company 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.