Odyssean LLC Purchases Shares of 14,271 Corcept Therapeutics Incorporated $CORT

Odyssean LLC purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the second quarter, HoldingsChannel.com reports. The fund purchased 14,271 shares of the biotechnology company’s stock, valued at approximately $1,241,000.

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

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 1,540 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $114.16, for a total transaction of $175,806.40. Following the completion of the transaction, the insider owned 5,495 shares of the company’s stock, valued at approximately $627,309.20. This trade represents a 21.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James N. Wilson sold 10,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $111.43, for a total transaction of $1,114,300.00. Following the sale, the director owned 1,074,543 shares in the company, valued at approximately $119,736,326.49. This trade represents a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 440,146 shares of company stock valued at $43,659,514 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a research note on Thursday, July 30th. 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, Truist Financial started coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $123.57 on Wednesday. The stock’s 50 day simple moving average is $98.99 and its two-hundred day simple moving average is $65.93. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 294.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The firm had revenue of $256.15 million for the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.

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.