Intech Investment Management LLC Raises Holdings in Corcept Therapeutics Incorporated $CORT

Intech Investment Management LLC lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 636.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 52,069 shares of the biotechnology company’s stock after purchasing an additional 44,994 shares during the quarter. Intech Investment Management LLC’s holdings in Corcept Therapeutics were worth $1,812,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $25,000. Clearstead Advisors LLC raised its stake in shares of Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 193 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Corcept Therapeutics by 598.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Larson Financial Group LLC raised its stake in shares of Corcept Therapeutics by 2,326.3% during the 3rd quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 442 shares during the period. Finally, Gould Capital LLC raised its stake in shares of Corcept Therapeutics by 50.0% during the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CORT shares. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. HC Wainwright boosted their price objective on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group set a $135.00 price objective on Corcept Therapeutics in a research note on Thursday, May 28th. Finally, Piper Sandler boosted their price objective on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Corcept Therapeutics Stock Up 3.1%

Shares of NASDAQ CORT opened at $74.89 on Friday. The firm has a market capitalization of $8.04 billion, a P/E ratio of 213.98 and a beta of 0.50. The stock’s 50-day simple moving average is $51.08 and its two-hundred day simple moving average is $52.00. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The business had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.Corcept Therapeutics’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Sean Maduck sold 75,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $65.59, for a total value of $4,919,250.00. Following the transaction, the insider directly owned 8,977 shares in the company, valued at $588,801.43. This represents a 89.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Atabak Mokari sold 40,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.00, for a total value of $2,800,000.00. Following the completion of the transaction, the chief financial officer owned 15,257 shares in the company, valued at $1,067,990. This represents a 72.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 242,965 shares of company stock worth $14,802,964. 20.70% of the stock is owned by corporate insiders.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.