Atlas Capital Advisors LLC Invests $354,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Atlas Capital Advisors LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,905 shares of the biotechnology company’s stock, valued at approximately $354,000.

Several other institutional investors have also bought and sold shares of CORT. BNP Paribas Financial Markets boosted its position in Corcept Therapeutics by 199.0% in the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after buying an additional 140,815 shares during the last quarter. Quantedge Capital Pte Ltd bought a new position in Corcept Therapeutics in the fourth quarter valued at approximately $8,066,000. Oak Ridge Investments LLC acquired a new stake in Corcept Therapeutics during the 2nd quarter worth $984,000. Norges Bank bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $24,603,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Corcept Therapeutics by 190.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after purchasing an additional 43,809 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.18, for a total value 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 legal filing with the SEC, which can be accessed through this link. In related news, insider Joseph Douglas Lyon sold 5,000 shares of the 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 completion of the transaction, the insider now owns 7,314 shares in the company, valued at $220,736.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The disclosure for this sale can be found here. Insiders sold 27,651 shares of company stock valued at $955,206 over the last three months. Company insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

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

Corcept Therapeutics Price Performance

CORT traded up $0.16 during trading on Friday, reaching $35.30. The company had a trading volume of 689,637 shares, compared to its average volume of 1,241,521. The company has a market cap of $3.68 billion, a P/E ratio of 33.30 and a beta of 0.44. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $39.75. The business’s fifty day moving average price is $33.57 and its 200 day moving average price is $28.56.

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

Corcept Therapeutics Profile

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.