Prescott Group Capital Management L.L.C. Takes $3.13 Million Position in Corcept Therapeutics Incorporated $CORT

Prescott Group Capital Management L.L.C. bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 90,000 shares of the biotechnology company’s stock, valued at approximately $3,132,000.

Several other large investors also recently made changes to their positions in CORT. AQR Capital Management LLC grew its stake in shares of Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after buying an additional 1,274,215 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Corcept Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock valued at $70,632,000 after buying an additional 587,053 shares during the period. UBS Group AG grew its stake in shares of Corcept Therapeutics by 413.8% in the 3rd quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock valued at $45,705,000 after buying an additional 442,898 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Corcept Therapeutics by 111.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company’s stock valued at $19,404,000 after buying an additional 268,155 shares during the period. Finally, Brown Capital Management LLC acquired a new position in Corcept Therapeutics during the 3rd quarter valued at about $19,950,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. bought 100,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $33.14 per share, for a total transaction of $3,314,000.00. Following the purchase, the director directly owned 1,146,631 shares of the company’s stock, valued at approximately $37,999,351.34. This represents a 9.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Guyer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $51.83, for a total value of $1,036,600.00. Following the completion of the transaction, the insider owned 2,231 shares in the company, valued at $115,632.73. The trade was a 89.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,198 shares of company stock worth $3,887,769 in the last 90 days. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. HC Wainwright lifted their price target on Corcept Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Piper Sandler lifted their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $70.83.

Corcept Therapeutics Stock Performance

CORT stock opened at $59.06 on Thursday. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $91.00. The business has a 50-day simple moving average of $43.74 and a two-hundred day simple moving average of $52.65. The company has a market capitalization of $6.34 billion, a P/E ratio of 168.75 and a beta of 0.36.

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). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The business had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $185.83 million. During the same quarter in the previous year, the firm earned $0.17 EPS. Corcept Therapeutics’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.48 earnings per share for the current fiscal year.

Corcept Therapeutics Company 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.