91,610 Shares in Corcept Therapeutics Incorporated $CORT Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 91,610 shares of the biotechnology company’s stock, valued at approximately $7,965,000. Corcept Therapeutics makes up approximately 1.8% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of CORT. NewEdge Wealth LLC bought a new stake in shares of Corcept Therapeutics in the second quarter valued at about $3,034,000. Citizens Financial Group Inc. RI acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $348,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $307,000. BlackRock Inc. acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $1,080,964,000. Finally, Pallas Capital Advisors LLC bought a new stake in Corcept Therapeutics in the 2nd quarter valued at approximately $515,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the subject of a number of recent research reports. Truist Financial initiated coverage on Corcept Therapeutics in a research report on Tuesday. They set a “buy” rating and a $164.00 price target for the company. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a report on Thursday, May 28th. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, HC Wainwright raised their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Five 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. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average target price of $138.17.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $119.02 on Thursday. The company’s 50-day moving average is $95.84 and its 200-day moving average is $63.62. The firm has a market capitalization of $12.87 billion, a PE ratio of 283.39 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $93.13, for a total value of $1,862,600.00. Following the completion of the transaction, the insider directly owned 3,985 shares of the company’s stock, valued at $371,123.05. The trade was a 83.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 75,000 shares of the company’s stock in a transaction dated 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 directly owned 8,977 shares of the company’s stock, valued at $588,801.43. This represents a 89.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 416,540 shares of company stock worth $36,652,354 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

About Corcept Therapeutics

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.