Inceptionr LLC Acquires Shares of 8,612 Corcept Therapeutics Incorporated $CORT

Inceptionr LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,612 shares of the biotechnology company’s stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $25,000. Atlas Capital Advisors Inc. purchased a new stake in Corcept Therapeutics in the fourth quarter worth $31,000. State of Wyoming grew its stake in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 186 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Corcept Therapeutics by 113.7% in the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler raised their price objective on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Wolfe Research reaffirmed an “underperform” rating and issued a $50.00 target price on shares of Corcept Therapeutics in a research report on Monday. HC Wainwright increased their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and an average price target of $92.17.

Insider Transactions at Corcept Therapeutics

In related news, Director James N. Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total transaction of $832,000.00. Following the sale, the director directly owned 1,094,543 shares of the company’s stock, valued at approximately $91,065,977.60. This represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total transaction of $1,862,600.00. Following the sale, the insider owned 3,985 shares of the company’s stock, valued at approximately $371,123.05. This represents a 83.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 300,000 shares of company stock worth $22,088,050 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Down 4.4%

CORT stock opened at $91.12 on Tuesday. The business has a 50 day moving average of $81.12 and a 200 day moving average of $55.00. The firm has a market cap of $9.78 billion, a PE ratio of 260.35 and a beta of 0.47. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $97.63.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $0.17 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal 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.