Englebert Financial Advisers LLC Buys New Shares in Corcept Therapeutics Incorporated $CORT

Englebert Financial Advisers LLC bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,348 shares of the biotechnology company’s stock, valued at approximately $847,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Corcept Therapeutics during the second quarter worth approximately $1,080,964,000. First Trust Advisors LP grew its stake in shares of Corcept Therapeutics by 213.5% during the 1st quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth $49,185,000. Bank of America Corp DE acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth $28,569,000. Finally, Legal & General Group Plc acquired a new stake in shares of Corcept Therapeutics during the 2nd quarter worth $18,962,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, insider Roberto Vieira sold 58,333 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $110.76, for a total transaction of $6,460,963.08. Following the completion of the sale, the insider directly owned 4,242 shares of the company’s stock, valued at approximately $469,843.92. This trade represents a 93.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Atabak Mokari sold 80,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $114.71, for a total transaction of $9,176,800.00. Following the completion of the transaction, 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 ninety days, insiders sold 454,748 shares of company stock valued at $52,786,210. Corporate insiders own 20.70% of the company’s stock.

Corcept Therapeutics Trading Up 3.9%

Shares of CORT stock opened at $116.45 on Wednesday. The company has a market cap of $12.59 billion, a PE ratio of 266.90 and a beta of 0.40. The company’s fifty day simple moving average is $115.70 and its 200-day simple moving average is $88.06. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results 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 net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period in the prior year, the company earned $0.29 EPS. The firm’s revenue was up 31.7% on a year-over-year basis. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $165.00 target price 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. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research note on Monday, July 27th. Truist Financial began coverage on Corcept Therapeutics in a report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research note 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

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.