Kennedy Capital Management LLC Raises Holdings in Corcept Therapeutics Incorporated $CORT

Kennedy Capital Management LLC raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 61.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 209,733 shares of the biotechnology company’s stock after acquiring an additional 79,807 shares during the quarter. Kennedy Capital Management LLC’s holdings in Corcept Therapeutics were worth $7,299,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Pathstone Holdings LLC boosted its stake in Corcept Therapeutics by 0.8% during the 3rd 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 during the last quarter. Clearstead Advisors LLC boosted its stake in Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 193 shares during the last quarter. Gould Capital LLC boosted its stake in Corcept Therapeutics by 50.0% during the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings 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 during the period. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 3.0% during the 4th quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company’s stock valued at $300,000 after buying an additional 248 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 3,985 shares of the company’s stock, valued at approximately $281,341. This trade represents a 83.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 75,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $65.59, for a total value of $4,919,250.00. Following the completion of the transaction, the insider directly owned 8,977 shares in the company, valued at approximately $588,801.43. This represents a 89.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 242,965 shares of company stock worth $14,802,964 in the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the topic of several research analyst reports. Piper Sandler increased their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, May 1st. UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $83.12 on Tuesday. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $91.00. The stock’s fifty day moving average is $56.51 and its 200 day moving average is $52.10. The stock has a market cap of $8.92 billion, a P/E ratio of 237.49 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The company had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. During the same period in the prior year, the business posted $0.17 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Corcept Therapeutics Incorporated will post 0.62 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.