EP Wealth Advisors LLC Acquires Shares of 4,850 Corcept Therapeutics Incorporated $CORT

EP Wealth Advisors LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,850 shares of the biotechnology company’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Torren Management LLC acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in Corcept Therapeutics during the 3rd quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Corcept Therapeutics during the second quarter worth approximately $27,000. Atlas Capital Advisors Inc. acquired a new position in Corcept Therapeutics during the fourth quarter worth approximately $31,000. Finally, State of Wyoming lifted its stake in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In related news, 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 transaction of $12,251,409.50. Following the completion of the sale, the director directly owned 1,133,539 shares of the company’s stock, valued at $134,040,986.75. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Douglas Lyon sold 1,540 shares of Corcept Therapeutics stock in a transaction on Monday, August 3rd. The shares were 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 in the company, valued at approximately $627,309.20. This trade represents a 21.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 440,146 shares of company stock valued at $43,659,514. Corporate insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Up 0.3%

Shares of CORT stock opened at $123.57 on Wednesday. The stock’s 50-day moving average price is $98.99 and its 200 day moving average price is $65.93. The stock has a market capitalization of $13.36 billion, a PE ratio of 294.22 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data 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 company had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. Analysts expect that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Truist Financial assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price target for the company. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, HC Wainwright raised their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five investment 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, Corcept Therapeutics currently has a consensus 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.