12,478 Shares in Corcept Therapeutics Incorporated $CORT Purchased by Evanson Financial LLC

Evanson Financial LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,478 shares of the biotechnology company’s stock, valued at approximately $1,085,000.

Several other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Corcept Therapeutics by 18.9% in the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after buying an additional 2,444 shares during the last quarter. Amundi acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at $450,000. NewEdge Advisors LLC bought a new position in Corcept Therapeutics during the first quarter worth about $518,000. EverSource Wealth Advisors LLC raised its holdings in Corcept Therapeutics by 273.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 1,055 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Corcept Therapeutics by 795.3% in the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock valued at $3,391,000 after buying an additional 41,040 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CORT. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.17.

Corcept Therapeutics Stock Up 2.6%

NASDAQ:CORT opened at $110.77 on Friday. The company has a fifty day moving average of $89.31 and a 200-day moving average of $59.37. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21. The firm has a market capitalization of $11.97 billion, a P/E ratio of 263.74 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $1,862,600.00. Following the sale, the insider directly owned 3,985 shares in the company, valued at $371,123.05. The trade was a 83.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Atabak Mokari sold 80,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the completion of the transaction, the chief financial officer owned 16,130 shares in the company, valued at approximately $1,850,272.30. The trade was a 83.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 385,545 shares of company stock valued at $33,151,584 in the last three months. 20.70% of the stock is owned by company insiders.

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.