Vilga Financial Planning LLC purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,046 shares of the biotechnology company’s stock, valued at approximately $1,503,000. Corcept Therapeutics comprises approximately 0.9% of Vilga Financial Planning LLC’s holdings, making the stock its 26th largest position.
Several other institutional investors and hedge funds have also made changes to their positions in CORT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at $27,000. State of Wyoming raised its stake in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 186 shares during the last quarter. IFP Advisors Inc raised its stake in Corcept Therapeutics by 568.4% in the 2nd quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 773 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Corcept Therapeutics during the 2nd quarter worth about $87,000. Finally, Gould Capital LLC lifted its position in Corcept Therapeutics by 66.7% during the 1st quarter. Gould Capital LLC now owns 1,000 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 400 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on CORT. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. HC Wainwright reiterated a “buy” rating and issued a $165.00 price target on shares of Corcept Therapeutics in a report on Friday, September 18th. Finally, Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.17.
Corcept Therapeutics Stock Down 0.9%
Shares of CORT opened at $118.54 on Friday. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 282.24 and a beta of 0.40. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $126.38. The stock’s 50-day moving average price is $114.99 and its 200-day moving average price is $83.67.
Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The company had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period last year, the business earned $0.29 earnings per share. Corcept Therapeutics’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.86 EPS for the current fiscal year.
Insider Activity
In other Corcept Therapeutics news, Director James N. Wilson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $110.69, for a total value of $1,106,900.00. Following the completion of the transaction, the director owned 1,064,543 shares in the company, valued at approximately $117,834,264.67. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 24,587 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.28, for a total transaction of $2,858,976.36. Following the sale, the insider directly owned 9,938 shares in the company, valued at approximately $1,155,590.64. The trade was a 71.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 444,748 shares of company stock valued at $51,638,110. 20.70% of the stock is currently owned by corporate insiders.
About Corcept Therapeutics
Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.
Corcept’s principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.
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