Roman Butler Fullerton & Co. Increases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Roman Butler Fullerton & Co. increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 72.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,031 shares of the biotechnology company’s stock after acquiring an additional 6,757 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Corcept Therapeutics were worth $491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after acquiring an additional 500 shares during the period. Mutual of America Capital Management LLC raised its holdings in Corcept Therapeutics by 33.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 144,972 shares of the biotechnology company’s stock worth $4,709,000 after purchasing an additional 36,255 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at about $1,468,000. Strs Ohio boosted its holdings in shares of Corcept Therapeutics by 585.0% in the 4th quarter. Strs Ohio now owns 13,700 shares of the biotechnology company’s stock valued at $444,000 after buying an additional 11,700 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $625,000. 93.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $30.21, for a total value of $66,462.00. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $30.18, for a total transaction of $150,900.00. Following the sale, the insider now owns 7,314 shares of the company’s stock, valued at approximately $220,736.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total transaction of $66,462.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,550 shares of company stock valued at $1,178,759. 20.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler increased their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. HC Wainwright raised their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corcept Therapeutics in a research report on Monday, June 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $46.50.

Corcept Therapeutics Stock Performance

NASDAQ CORT traded up $0.03 during mid-day trading on Tuesday, reaching $34.14. 524,386 shares of the stock were exchanged, compared to its average volume of 1,301,647. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $39.75. The business’s 50 day moving average is $32.65 and its 200-day moving average is $27.42. The company has a market capitalization of $3.55 billion, a P/E ratio of 32.18 and a beta of 0.44.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.03 earnings per share for the current fiscal year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.