Affinity Asset Advisors LLC Buys Shares of 50,000 Corcept Therapeutics Incorporated $CORT

Affinity Asset Advisors LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the biotechnology company’s stock, valued at approximately $2,016,000.

A number of other hedge funds have also modified their holdings of the stock. Pathstone Holdings LLC raised its holdings in shares of Corcept Therapeutics by 0.8% during the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company’s stock worth $1,497,000 after acquiring an additional 144 shares in the last quarter. State of Wyoming grew its stake in shares of Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 186 shares in the last quarter. Gould Capital LLC increased its holdings in 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 buying an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Corcept Therapeutics by 3.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company’s stock worth $240,000 after buying an additional 247 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in Corcept Therapeutics by 3.0% during the fourth quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company’s stock valued at $300,000 after acquiring an additional 248 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Finally, Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One investment 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Buying and Selling

In related news, Director James N. Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $83.20, for a total transaction of $832,000.00. Following the completion of the transaction, the director owned 1,094,543 shares in the company, valued at $91,065,977.60. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total value of $1,862,600.00. Following the completion of the sale, the insider directly owned 3,985 shares in the company, valued at approximately $371,123.05. This represents a 83.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 300,000 shares of company stock worth $22,088,050. Insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $95.36 on Friday. The firm’s 50-day simple moving average is $80.40 and its 200-day simple moving average is $54.47. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $97.63. The firm has a market cap of $10.24 billion, a P/E ratio of 272.46 and a beta of 0.47.

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