Ellsworth Advisors LLC Buys Shares of 10,006 Corcept Therapeutics Incorporated $CORT

Ellsworth Advisors LLC purchased a new position in 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 purchased 10,006 shares of the biotechnology company’s stock, valued at approximately $769,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CORT. Cerity Partners LLC lifted its stake in Corcept Therapeutics by 21.4% during the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock valued at $54,800,000 after acquiring an additional 131,799 shares during the period. Castleark Management LLC bought a new position in Corcept Therapeutics during the second quarter valued at approximately $2,711,000. State Board of Administration of Florida Retirement System boosted its holdings in Corcept Therapeutics by 154.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 58,596 shares of the biotechnology company’s stock worth $4,301,000 after purchasing an additional 35,539 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Corcept Therapeutics by 883.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock worth $1,443,000 after purchasing an additional 17,660 shares during the period. Finally, Epoch Investment Partners Inc. bought a new stake in Corcept Therapeutics in the 2nd quarter worth approximately $56,181,000. 93.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $85.08, for a total transaction of $3,403,200.00. Following the transaction, the chief executive officer owned 2,781,370 shares in the company, valued at approximately $236,638,959.60. The trade was a 1.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $75.36, for a total transaction of $1,507,200.00. Following the completion of the transaction, the insider directly owned 5,287 shares of the company’s stock, valued at $398,428.32. This represents a 79.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 261,700 shares of company stock valued at $21,002,348 over the last 90 days. 20.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CORT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday. Wolfe Research started coverage on Corcept Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $145.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, November 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Finally, UBS Group started coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.20.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $82.65 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $78.76 and a two-hundred day simple moving average of $75.46. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 93.92 and a beta of 0.20. Corcept Therapeutics Incorporated has a 52 week low of $49.00 and a 52 week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.