Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 21.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,802 shares of the biotechnology company's stock after purchasing an additional 3,511 shares during the period. CWA Asset Management Group LLC's holdings in Corcept Therapeutics were worth $2,262,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CORT. QRG Capital Management Inc. raised its holdings in Corcept Therapeutics by 0.6% in the 1st quarter. QRG Capital Management Inc. now owns 96,923 shares of the biotechnology company's stock worth $11,071,000 after acquiring an additional 558 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Corcept Therapeutics by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock worth $909,000 after acquiring an additional 230 shares during the period. Goldstone Financial Group LLC bought a new position in shares of Corcept Therapeutics in the first quarter worth about $547,000. SG Americas Securities LLC boosted its stake in Corcept Therapeutics by 285.3% during the first quarter. SG Americas Securities LLC now owns 43,109 shares of the biotechnology company's stock valued at $4,924,000 after buying an additional 31,922 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Corcept Therapeutics during the first quarter valued at approximately $228,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 0.2%

Shares of CORT traded up $0.14 during mid-day trading on Friday, reaching $71.38. The company had a trading volume of 1,735,082 shares, compared to its average volume of 1,138,740. The stock has a market capitalization of $7.57 billion, a P/E ratio of 61.53 and a beta of 0.19. The stock has a 50 day moving average of $71.56 and a two-hundred day moving average of $64.74. Corcept Therapeutics Incorporated has a 52-week low of $29.18 and a 52-week high of $117.33.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CORT. Piper Sandler raised their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. HC Wainwright reduced their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. 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 research report on Tuesday, April 1st. Finally, Truist Financial set a $135.00 target price on Corcept Therapeutics in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company 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 1,974 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.83, for a total value of $120,078.42. Following the sale, the chief executive officer now owns 3,017,437 shares of the company's stock, valued at approximately $183,550,692.71. This represents a 0.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Guyer sold 20,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $72.42, for a total value of $1,448,400.00. Following the completion of the transaction, the insider now owns 5,487 shares of the company's stock, valued at $397,368.54. This trade represents a 78.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 362,325 shares of company stock valued at $30,509,238 over the last quarter. 20.80% of the stock is owned by insiders.

About Corcept Therapeutics

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.