Focus Partners Advisor Solutions LLC Acquires New Holdings in Corcept Therapeutics Incorporated $CORT

Focus Partners Advisor Solutions LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, Holdings Channel reports. The fund purchased 6,677 shares of the biotechnology company’s stock, valued at approximately $581,000.

Several other institutional investors have also recently modified their holdings of CORT. Royal Bank of Canada raised its holdings in shares of Corcept Therapeutics by 18.9% in the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after acquiring an additional 2,444 shares during the last quarter. Amundi purchased a new stake in Corcept Therapeutics in the 1st quarter worth approximately $450,000. NewEdge Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the first quarter worth $518,000. EverSource Wealth Advisors LLC lifted its position in Corcept Therapeutics by 273.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after buying an additional 1,055 shares during the period. Finally, Marshall Wace LLP boosted its stake in Corcept Therapeutics by 795.3% in the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after buying an additional 41,040 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total transaction of $1,690,600.00. Following the transaction, the director directly owned 26,147 shares of the company’s stock, valued at $2,210,205.91. The trade was a 43.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $65.59, for a total transaction of $4,919,250.00. Following the sale, the insider owned 8,977 shares of the company’s stock, valued at approximately $588,801.43. This represents a 89.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 402,876 shares of company stock valued at $35,118,563. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on CORT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a report on Thursday, May 28th. Canaccord Genuity Group upped their price target 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. HC Wainwright increased their price target on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.17.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $117.17 on Tuesday. The stock’s 50-day moving average is $94.21 and its 200-day moving average is $62.59. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 278.98 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same period in the previous year, the company posted $0.29 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

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.