Jefferies Financial Group Inc. Purchases New Stake in Corcept Therapeutics Incorporated $CORT

Jefferies Financial Group Inc. purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,081 shares of the biotechnology company’s stock, valued at approximately $2,021,000.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Corcept Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after acquiring an additional 587,053 shares in the last quarter. Brown Capital Management LLC acquired a new position in Corcept Therapeutics during the third quarter worth about $19,950,000. Allspring Global Investments Holdings LLC raised its stake in Corcept Therapeutics by 111.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company’s stock worth $19,404,000 after acquiring an additional 268,155 shares in the last quarter. First Trust Advisors LP raised its stake in Corcept Therapeutics by 34.1% during the third quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company’s stock worth $59,858,000 after acquiring an additional 183,038 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Corcept Therapeutics by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 365,838 shares of the biotechnology company’s stock worth $30,405,000 after acquiring an additional 44,070 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of several research analyst reports. UBS Group raised Corcept Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $72.00 in a research note on Wednesday, May 13th. Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. Piper Sandler boosted their target price on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. HC Wainwright boosted their target price on Corcept Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.83.

Insider Buying and Selling at Corcept Therapeutics

In other news, Director G Leonard Baker, Jr. bought 100,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of $33.14 per share, with a total value of $3,314,000.00. Following the transaction, the director owned 1,146,631 shares of the company’s stock, valued at $37,999,351.34. This trade represents a 9.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 26,198 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the sale, the chief executive officer directly owned 2,918,326 shares of the company’s stock, valued at $146,120,582.82. This represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 86,198 shares of company stock valued at $3,887,769. 20.70% of the stock is currently owned by company insiders.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $66.65 on Thursday. The business has a 50 day moving average of $46.60 and a 200-day moving average of $52.22. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $91.00. The company has a market capitalization of $7.15 billion, a P/E ratio of 190.43 and a beta of 0.36.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The firm had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. During the same period in the prior year, the company earned $0.17 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 0.52 EPS for the current year.

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.