Sanctuary Advisors LLC Takes Position in Corcept Therapeutics Incorporated $CORT

Sanctuary Advisors LLC bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, Holdings Channel.com reports. The firm bought 9,289 shares of the biotechnology company’s stock, valued at approximately $808,000.

Several other large investors have also bought and sold shares of CORT. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Corcept Therapeutics in the second quarter worth about $7,092,000. Evolve Private Wealth LLC acquired a new stake in Corcept Therapeutics in the 2nd quarter valued at about $226,000. Westpac Banking Corp bought a new position in shares of Corcept Therapeutics during the 2nd quarter valued at about $138,000. EP Wealth Advisors LLC bought a new position in shares of Corcept Therapeutics during the 2nd quarter valued at about $422,000. Finally, Ieq Capital LLC acquired a new position in shares of Corcept Therapeutics in the 2nd quarter worth approximately $8,034,000. Institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 103,606 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $118.25, for a total transaction of $12,251,409.50. Following the transaction, the director directly owned 1,133,539 shares in the company, valued at approximately $134,040,986.75. The trade was a 8.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimberly Park sold 26,685 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $122.55, for a total transaction of $3,270,246.75. Following the sale, the director directly owned 30,000 shares in the company, valued at approximately $3,676,500. This trade represents a 47.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 497,786 shares of company stock valued at $50,817,090 over the last three months. 20.70% of the stock is owned by insiders.

Corcept Therapeutics Trading Down 2.6%

Shares of CORT opened at $113.88 on Friday. The business’s 50-day moving average price is $101.17 and its 200 day moving average price is $67.37. The stock has a market capitalization of $12.31 billion, a P/E ratio of 271.15 and a beta of 0.45. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38.

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

Wall Street Analyst Weigh In

CORT has been the topic of a number of research reports. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating 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 report on Monday, May 4th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. Finally, Canaccord Genuity Group upped their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.17.

About Corcept Therapeutics

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.