Bridge City Capital LLC Has $1.03 Million Stock Position in Corcept Therapeutics Incorporated $CORT

Bridge City Capital LLC lifted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 53.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,535 shares of the biotechnology company’s stock after acquiring an additional 10,324 shares during the quarter. Bridge City Capital LLC’s holdings in Corcept Therapeutics were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CORT. AQR Capital Management LLC increased its position in shares of Corcept Therapeutics by 546.9% in the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock valued at $125,264,000 after acquiring an additional 1,274,215 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Corcept Therapeutics by 38.0% in the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after acquiring an additional 734,646 shares during the last quarter. Norges Bank acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $24,213,000. JPMorgan Chase & Co. increased its position in shares of Corcept Therapeutics by 223.4% in the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock valued at $70,632,000 after acquiring an additional 587,053 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Corcept Therapeutics by 413.8% in the third quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock valued at $45,705,000 after acquiring an additional 442,898 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the completion of the sale, the insider owned 6,230 shares in the company, valued at $404,950. The trade was a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $70.60, for a total value of $1,412,000.00. Following the sale, the insider owned 3,985 shares of the company’s stock, valued at approximately $281,341. This represents a 83.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 242,965 shares of company stock valued at $14,802,964. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CORT shares. HC Wainwright upped their target price on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. Piper Sandler boosted their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. 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’s stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Corcept Therapeutics Stock Down 0.4%

Shares of NASDAQ CORT opened at $82.91 on Friday. The business’s 50 day moving average price is $55.70 and its two-hundred day moving average price is $52.26. The company has a market cap of $8.90 billion, a PE ratio of 236.89 and a beta of 0.50. 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 quarterly 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 for the quarter, compared to analyst estimates of $185.83 million. During the same period last year, the firm earned $0.17 EPS. Corcept Therapeutics’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 0.62 EPS 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.