Intellectus Partners LLC Purchases Shares of 54,859 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Intellectus Partners LLC acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 54,859 shares of the biotechnology company’s stock, valued at approximately $2,539,000. Intellectus Partners LLC owned approximately 0.05% of Corcept Therapeutics at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Corcept Therapeutics in the third quarter worth about $25,000. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $35,000. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics in the third quarter worth $36,000. Finally, Blue Trust Inc. increased its holdings in shares of Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the sale, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,301 shares of company stock valued at $1,594,253. 20.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler upped their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, 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. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Stock Performance

CORT stock opened at $54.79 on Friday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 43.48 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a 50-day simple moving average of $46.11 and a two-hundred day simple moving average of $36.61.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.31 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.