Brookwood Investment Group LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Brookwood Investment Group LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,931 shares of the biotechnology company's stock, valued at approximately $1,134,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CORT. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $42,000. Gen Wealth Partners Inc acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $67,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Corcept Therapeutics by 102.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock worth $71,000 after buying an additional 313 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Corcept Therapeutics by 1,150.8% during the first quarter. IFP Advisors Inc now owns 738 shares of the biotechnology company's stock worth $84,000 after buying an additional 679 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Up 1.3%

Shares of NASDAQ CORT traded up $0.86 during trading on Monday, hitting $69.15. The company had a trading volume of 829,686 shares, compared to its average volume of 1,377,619. The stock has a fifty day simple moving average of $72.38 and a two-hundred day simple moving average of $67.95. Corcept Therapeutics Incorporated has a fifty-two week low of $32.33 and a fifty-two week high of $117.33. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 59.61 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter last year, the business earned $0.25 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. HC Wainwright reduced their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Piper Sandler raised their target price 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. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and an average price target of $138.25.

Insiders Place Their Bets

In related news, CEO Joseph K. Belanoff sold 615 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $73.69, for a total transaction of $45,319.35. Following the transaction, the chief executive officer directly owned 2,901,370 shares in the company, valued at approximately $213,801,955.30. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 3,877 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $73.48, for a total transaction of $284,881.96. Following the transaction, the insider owned 10,066 shares in the company, valued at $739,649.68. The trade was a 27.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 239,592 shares of company stock valued at $18,071,616. 20.80% of the stock is owned by company insiders.

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.