Emerald Mutual Fund Advisers Trust Invests $4.32 Million in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Emerald Mutual Fund Advisers Trust bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 37,818 shares of the biotechnology company's stock, valued at approximately $4,320,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings 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 acquiring an additional 230 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings 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 buying an additional 257 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Corcept Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock worth $426,000 after buying an additional 268 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in 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 acquiring an additional 313 shares during the period. Finally, GAMMA Investing LLC raised its position in Corcept Therapeutics by 13.7% during the first quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company's stock valued at $389,000 after acquiring an additional 411 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 32,262 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $74.17, for a total transaction of $2,392,872.54. Following the transaction, the insider directly owned 5,487 shares in the company, valued at $406,970.79. The trade was a 85.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David L. Mahoney sold 27,352 shares of the stock in a transaction that occurred on 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 quarter, insiders sold 223,033 shares of company stock valued at $16,860,067. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Stock Down 0.2%

Shares of NASDAQ CORT traded down $0.13 during midday trading on Friday, hitting $71.88. The stock had a trading volume of 679,544 shares, compared to its average volume of 1,187,815. The stock has a 50 day simple moving average of $72.67 and a 200-day simple moving average of $66.41. The company has a market capitalization of $7.62 billion, a PE ratio of 61.97 and a beta of 0.15. Corcept Therapeutics Incorporated has a 1 year low of $31.18 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $157.21 million during 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 firm's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CORT. Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Canaccord Genuity Group raised 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. Piper Sandler increased their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, HC Wainwright cut their price target 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

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.