Bosun Asset Management LLC Purchases Shares of 7,095 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Bosun Asset Management LLC acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,095 shares of the biotechnology company’s stock, valued at approximately $358,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $27,000. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI bought a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the 4th quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $58,000. Institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the subject of several research reports. HC Wainwright cut their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Truist Financial boosted their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. StockNews.com upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $142.00.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $70.91 on Wednesday. The stock has a market capitalization of $7.52 billion, a P/E ratio of 56.28 and a beta of 0.22. Corcept Therapeutics Incorporated has a one year low of $23.61 and a one year high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business’s 50 day simple moving average is $66.14 and its two-hundred day simple moving average is $60.41.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $72.90, for a total value of $2,916,000.00. Following the completion of the sale, the chief executive officer now owns 2,941,985 shares in the company, valued at approximately $214,470,706.50. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the transaction, the insider now owns 85,622 shares of the company’s stock, valued at approximately $8,608,435.88. This represents a 53.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 229,678 shares of company stock worth $19,951,609. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.