EP Wealth Advisors LLC Makes New $422,000 Investment in Corcept Therapeutics Incorporated $CORT

EP Wealth Advisors LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,850 shares of the biotechnology company’s stock, valued at approximately $422,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Corcept Therapeutics in the second quarter valued at $1,080,964,000. First Trust Advisors LP boosted its holdings in Corcept Therapeutics by 213.5% in the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after purchasing an additional 1,480,059 shares during the period. AQR Capital Management LLC grew its stake in Corcept Therapeutics by 546.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares in the last quarter. Geode Capital Management LLC grew its stake in Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after purchasing an additional 734,646 shares in the last quarter. Finally, Norges Bank purchased a new stake in Corcept Therapeutics during the 4th quarter worth about $24,213,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 1,540 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $114.16, for a total value of $175,806.40. Following the completion of the transaction, the insider directly owned 5,495 shares of the company’s stock, valued at $627,309.20. This represents a 21.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 3,664 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $114.49, for a total transaction of $419,491.36. Following the completion of the transaction, the insider owned 9,755 shares in the company, valued at $1,116,849.95. This represents a 27.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 440,146 shares of company stock worth $43,659,514. 20.70% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $123.57 on Wednesday. The firm has a market capitalization of $13.36 billion, a PE ratio of 294.22 and a beta of 0.45. The business’s fifty day moving average price is $98.99 and its 200 day moving average price is $65.93. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. The company had revenue of $256.15 million for the quarter, compared to analysts’ expectations of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.Corcept Therapeutics’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. HC Wainwright increased their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Monday, July 27th. Piper Sandler restated an “overweight” rating and set a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $138.17.

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.