Corcept Therapeutics Incorporated $CORT Position Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 103.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,267 shares of the biotechnology company’s stock after acquiring an additional 16,376 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $3,718,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CORT. Redwood Family Wealth LLC bought a new position in Corcept Therapeutics during the third quarter worth $230,000. IFP Advisors Inc increased its stake in Corcept Therapeutics by 48.0% in the third quarter. IFP Advisors Inc now owns 1,345 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 436 shares in the last quarter. Encompass More Asset Management bought a new stake in Corcept Therapeutics in the third quarter valued at $690,000. Krilogy Financial LLC increased its stake in Corcept Therapeutics by 21.2% in the third quarter. Krilogy Financial LLC now owns 7,404 shares of the biotechnology company’s stock valued at $897,000 after purchasing an additional 1,293 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Corcept Therapeutics by 38.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 5,342 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 1,487 shares during the period. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CORT. HC Wainwright reiterated a “buy” rating and set a $165.00 price objective on shares of Corcept Therapeutics in a report on Friday, September 18th. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Finally, Canaccord Genuity Group upped their price target on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.17.

Corcept Therapeutics Stock Down 20.1%

Shares of CORT opened at $85.86 on Friday. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $126.38. The business’s fifty day moving average is $115.15 and its 200 day moving average is $89.02. The stock has a market cap of $9.28 billion, a P/E ratio of 204.43 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.52% and a return on equity of 8.26%. Corcept Therapeutics’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.83 EPS for the current year.

Insider Activity

In other news, insider Sean Maduck sold 30,955 shares of Corcept Therapeutics stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the completion of the transaction, the insider directly owned 9,755 shares in the company, valued at $1,225,032.90. This trade represents a 76.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Atabak Mokari sold 80,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the sale, the chief financial officer directly owned 16,130 shares of the company’s stock, valued at approximately $1,850,272.30. The trade was a 83.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 454,748 shares of company stock valued at $52,786,210. 20.70% of the stock is currently owned by insiders.

Corcept Therapeutics Company Profile

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.