Emerald Advisers LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Emerald Advisers LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,182 shares of the biotechnology company's stock, valued at approximately $7,102,000. Emerald Advisers LLC owned 0.06% of Corcept Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Corcept Therapeutics by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock valued at $909,000 after purchasing an additional 230 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Corcept Therapeutics by 9.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock valued at $150,000 after purchasing an additional 257 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock worth $426,000 after acquiring an additional 268 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 313 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 13.7% in the 1st quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company's stock worth $389,000 after acquiring an additional 411 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Corcept Therapeutics Price Performance

CORT stock traded down $0.13 during trading hours on Friday, reaching $71.88. 679,544 shares of the stock were exchanged, compared to its average volume of 1,189,716. The firm's 50-day moving average is $72.67 and its 200-day moving average is $66.51. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 61.97 and a beta of 0.15. Corcept Therapeutics Incorporated has a 12 month low of $31.46 and a 12 month 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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.17. The firm had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Activity

In other news, insider William Guyer sold 32,262 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $74.17, for a total value of $2,392,872.54. Following the completion of the transaction, the insider owned 5,487 shares in the company, valued at $406,970.79. This trade represents a 85.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Mahoney sold 27,352 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $74.23, for a total value of $2,030,338.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,033 shares of company stock worth $16,860,067. 20.80% of the stock is currently owned by 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.