81,569 Shares in Corcept Therapeutics Incorporated $CORT Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 81,569 shares of the biotechnology company’s stock, valued at approximately $7,092,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Corcept Therapeutics as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $25,000. Advisory Services Network LLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Corcept Therapeutics in the 2nd quarter valued at about $27,000. Atlas Capital Advisors Inc. acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $31,000. Finally, State of Wyoming raised its stake in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Down 3.1%

Shares of CORT opened at $119.80 on Thursday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $126.38. The stock’s 50 day moving average is $99.75 and its two-hundred day moving average is $66.51. The firm has a market capitalization of $12.95 billion, a PE ratio of 285.24 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.77 EPS for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $88.35, for a total value of $2,208,750.00. Following the completion of the transaction, the insider owned 9,755 shares in the company, valued at approximately $861,854.25. This represents a 71.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Mahoney sold 103,606 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $118.25, for a total value of $12,251,409.50. Following the completion of the transaction, the director owned 1,133,539 shares of the company’s stock, valued at $134,040,986.75. The trade was a 8.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 440,146 shares of company stock worth $43,659,514. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CORT. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. UBS Group set a $135.00 target price on Corcept Therapeutics in a report on Thursday, May 28th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Monday, July 27th. Finally, Truist Financial started coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target for the company. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target 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.