Retirement Guys Formula LLC Buys New Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Retirement Guys Formula LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,078 shares of the biotechnology company’s stock, valued at approximately $235,000.

A number of other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Corcept Therapeutics by 199.0% in the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after purchasing an additional 140,815 shares during the last quarter. Oak Ridge Investments LLC bought a new position in Corcept Therapeutics in the 2nd quarter valued at $984,000. State Board of Administration of Florida Retirement System boosted its holdings 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 worth $1,684,000 after buying an additional 43,809 shares during the last quarter. US Bancorp DE increased its holdings in Corcept Therapeutics by 6,252.3% during the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after buying an additional 24,884 shares during the last quarter. Finally, Milestone Asset Management LLC increased its position in Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock worth $1,676,000 after buying an additional 16,593 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Finally, HC Wainwright upped their price target on Corcept Therapeutics from $45.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Price Performance

NASDAQ CORT traded down $0.97 during trading hours on Monday, hitting $48.78. The company’s stock had a trading volume of 509,328 shares, compared to its average volume of 1,184,488. The company’s 50 day simple moving average is $39.65 and its two-hundred day simple moving average is $33.04. The company has a market cap of $5.08 billion, a P/E ratio of 46.41 and a beta of 0.46. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $50.07.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now directly owns 23,190 shares in the company, valued at $828,114.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the sale, the insider now directly owns 23,190 shares in the company, valued at approximately $828,114.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,251 shares of company stock worth $1,365,292 over the last ninety days. Corporate insiders own 20.50% of the company’s stock.

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.