Corcept Therapeutics Incorporated $CORT Shares Newly Purchased by Englebert Financial Advisers LLC

Englebert Financial Advisers LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 7,348 shares of the biotechnology company’s stock, valued at approximately $847,000.

Other hedge funds have also bought and sold shares of the company. Alberta Investment Management Corp acquired a new position in Corcept Therapeutics during the 2nd quarter valued at approximately $9,843,000. BlackRock Inc. bought a new position in Corcept Therapeutics during the 2nd quarter worth $1,080,964,000. NewEdge Wealth LLC acquired a new stake in Corcept Therapeutics in the second quarter worth $3,034,000. Evanson Financial LLC acquired a new stake in Corcept Therapeutics in the second quarter worth $1,085,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Corcept Therapeutics in the second quarter worth $2,311,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $116.45 on Wednesday. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $126.38. The stock has a fifty day moving average of $115.70 and a two-hundred day moving average of $88.06. The firm has a market capitalization of $12.59 billion, a PE ratio of 266.90 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. The company had revenue of $256.15 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Zacks Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director James N. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $114.81, for a total transaction of $1,148,100.00. Following the transaction, the director owned 1,054,543 shares of the company’s stock, valued at approximately $121,072,081.83. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Lyon sold 9,190 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.13, for a total transaction of $1,067,234.70. Following the sale, the insider owned 5,683 shares in the company, valued at $659,966.79. This trade represents a 61.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 454,748 shares of company stock worth $52,786,210. 20.70% of the stock is owned by company insiders.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.