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

CWA Asset Management Group LLC raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 21.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,802 shares of the biotechnology company's stock after purchasing an additional 3,511 shares during the quarter. CWA Asset Management Group LLC's holdings in Corcept Therapeutics were worth $2,262,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CORT. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $27,000. Canada Pension Plan Investment Board purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $42,000. Principal Securities Inc. increased its position in shares of Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 483 shares during the last quarter. Finally, Gen Wealth Partners Inc purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $67,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CORT shares. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. HC Wainwright dropped their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler lifted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock 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 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Insider Activity at Corcept Therapeutics

In other 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 transaction of $120,078.42. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at $545,765.22. This trade represents a 4.46% 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 three months. 20.80% of the stock is owned by insiders.

Corcept Therapeutics Trading Up 0.2%

Corcept Therapeutics stock traded up $0.14 during midday trading on Friday, hitting $71.38. The stock had a trading volume of 1,735,082 shares, compared to its average volume of 1,135,919. The stock has a market cap of $7.57 billion, a P/E ratio of 61.53 and a beta of 0.19. Corcept Therapeutics Incorporated has a 12 month low of $29.42 and a 12 month high of $117.33. The business has a fifty day moving average price of $71.56 and a 200 day moving average price of $64.76.

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

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.