Brown Capital Management LLC Purchases Shares of 240,047 Corcept Therapeutics Incorporated $CORT

Brown Capital Management LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 240,047 shares of the biotechnology company’s stock, valued at approximately $19,950,000.

Several other institutional investors have also recently made changes to their positions in CORT. Norges Bank purchased a new position in shares of Corcept Therapeutics during the 2nd quarter valued at about $72,048,000. TD Asset Management Inc bought a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $60,179,000. Epoch Investment Partners Inc. bought a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $56,181,000. Cerity Partners LLC lifted its holdings in Corcept Therapeutics by 1.6% during the third quarter. Cerity Partners LLC now owns 758,426 shares of the biotechnology company’s stock valued at $63,033,000 after purchasing an additional 11,833 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Corcept Therapeutics by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 638,722 shares of the biotechnology company’s stock worth $46,882,000 after purchasing an additional 55,629 shares during the period. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Up 2.1%

CORT opened at $40.71 on Tuesday. The company has a market capitalization of $4.28 billion, a PE ratio of 46.26 and a beta of 0.25. The firm has a 50-day simple moving average of $61.37 and a two-hundred day simple moving average of $69.91. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52 week low of $32.99 and a 52 week high of $117.33.

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

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at approximately $628,526.08. This represents a 71.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $35.18, for a total transaction of $703,600.00. Following the completion of the transaction, the insider directly owned 1,235 shares of the company’s stock, valued at approximately $43,447.30. This trade represents a 94.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,282 shares of company stock valued at $11,507,330 over the last 90 days. Insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CORT shares. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. UBS Group initiated coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price target on the stock. Truist Financial set a $50.00 price objective on Corcept Therapeutics in a research report on Wednesday, December 31st. HC Wainwright increased their target price on Corcept Therapeutics from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $83.50.

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.