19,200 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Bought by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,200 shares of the biotechnology company's stock, valued at approximately $2,193,000.

A number of other institutional investors and hedge funds have also modified their holdings of CORT. Norges Bank acquired a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $42,055,000. GAMMA Investing LLC grew its holdings in shares of Corcept Therapeutics by 12,888.9% in the 1st quarter. GAMMA Investing LLC now owns 389,148 shares of the biotechnology company's stock worth $44,448,000 after acquiring an additional 386,152 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $12,084,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after acquiring an additional 153,100 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock worth $453,729,000 after acquiring an additional 142,784 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Trading Up 1.8%

Shares of Corcept Therapeutics stock traded up $1.31 during trading hours on Friday, reaching $72.65. 675,773 shares of the company's stock were exchanged, compared to its average volume of 1,180,525. Corcept Therapeutics Incorporated has a 52-week low of $29.42 and a 52-week high of $117.33. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 62.63 and a beta of 0.15. The company has a fifty day moving average of $72.87 and a 200-day moving average of $65.87.

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

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research reports. HC Wainwright lowered their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group increased their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Corcept Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 27,352 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $74.23, for a total transaction of $2,030,338.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $82.86, for a total value of $3,314,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,901,985 shares in the company, valued at $240,458,477.10. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,233 shares of company stock worth $17,014,551. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics 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.