Sanctuary Advisors LLC Invests $808,000 in Corcept Therapeutics Incorporated $CORT

Sanctuary Advisors LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 9,289 shares of the biotechnology company’s stock, valued at approximately $808,000.

A number of other institutional investors have also modified their holdings of the business. Torren Management LLC acquired a new stake in Corcept Therapeutics during the fourth quarter worth about $25,000. Advisory Services Network LLC bought a new position in Corcept Therapeutics in the third quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Corcept Therapeutics in the second quarter valued at approximately $27,000. Atlas Capital Advisors Inc. acquired a new position in Corcept Therapeutics in the fourth quarter valued at approximately $31,000. Finally, State of Wyoming grew its holdings in shares of Corcept Therapeutics by 29.5% during the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of research reports. Truist Financial assumed coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price target on the stock. Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. 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. 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. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.17.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $113.88 on Friday. 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 $101.17 and a two-hundred day moving average of $67.37. The firm has a market capitalization of $12.31 billion, a PE ratio of 271.15 and a beta of 0.45.

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. 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 quarter in the prior year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, CFO Atabak Mokari sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total value of $9,176,800.00. Following the completion of the sale, the chief financial officer directly owned 16,130 shares of the company’s stock, valued at approximately $1,850,272.30. This represents a 83.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 30,955 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the completion of the sale, the insider directly owned 9,755 shares of the company’s stock, valued at approximately $1,225,032.90. This represents a 76.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 497,786 shares of company stock worth $50,817,090 over the last ninety days. Insiders own 20.70% of the company’s stock.

Corcept Therapeutics Company 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.