Intellectus Partners LLC Sells 11,051 Shares of Corcept Therapeutics Incorporated $CORT

Intellectus Partners LLC cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 26.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,000 shares of the biotechnology company’s stock after selling 11,051 shares during the period. Intellectus Partners LLC’s holdings in Corcept Therapeutics were worth $1,079,000 as of its most recent filing with the SEC.

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

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 75,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 8,977 shares of the company’s stock, valued at $588,801.43. This represents a 89.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Atabak Mokari sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 directly owned 15,257 shares of the company’s stock, valued at approximately $1,067,990. This trade represents a 72.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 222,965 shares of company stock worth $13,390,964. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler lifted their price objective on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. HC Wainwright lifted their price objective on Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Wolfe Research upgraded Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. Finally, Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Corcept Therapeutics Stock Up 2.0%

Corcept Therapeutics stock opened at $72.65 on Thursday. The business has a 50 day moving average price of $50.26 and a two-hundred day moving average price of $52.01. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 207.58 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. On average, analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

About Corcept Therapeutics

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.