Bokf Na Makes New Investment in Corcept Therapeutics Incorporated $CORT

Bokf Na acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, Holdings Channel reports. The firm acquired 30,496 shares of the biotechnology company’s stock, valued at approximately $1,061,000.

Several other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares in the last quarter. TD Asset Management Inc raised its holdings in Corcept Therapeutics by 16.6% in the 3rd quarter. TD Asset Management Inc now owns 956,136 shares of the biotechnology company’s stock worth $79,464,000 after purchasing an additional 136,254 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Corcept Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after purchasing an additional 587,053 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Corcept Therapeutics by 10.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 847,104 shares of the biotechnology company’s stock worth $70,403,000 after purchasing an additional 81,700 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Corcept Therapeutics by 34.1% in the 3rd quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company’s stock worth $59,858,000 after purchasing an additional 183,038 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Up 2.4%

Shares of NASDAQ CORT opened at $52.28 on Friday. The firm’s 50-day moving average price is $40.09 and its 200-day moving average price is $53.80. The company has a market cap of $5.61 billion, a PE ratio of 149.38 and a beta of 0.36. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The company had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CORT. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. Truist Financial raised shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Piper Sandler upped their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $74.67.

Insider Activity

In related news, Director G Leonard Baker, Jr. purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $33.14 per share, with a total value of $3,314,000.00. Following the acquisition, the director directly owned 1,146,631 shares in the company, valued at $37,999,351.34. The trade was a 9.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 26,198 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the sale, the chief executive officer directly owned 2,918,326 shares in the company, valued at approximately $146,120,582.82. The trade was a 0.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,198 shares of company stock valued at $3,887,769 in the last 90 days. 20.70% of the stock is currently owned by insiders.

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.