First Trust Advisors LP Grows Holdings in Corcept Therapeutics Incorporated $CORT

First Trust Advisors LP boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 213.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,173,376 shares of the biotechnology company's stock after acquiring an additional 1,480,059 shares during the period. First Trust Advisors LP owned 2.02% of Corcept Therapeutics worth $87,609,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pathstone Holdings LLC increased its stake in shares of Corcept Therapeutics by 0.8% during the third quarter. Pathstone Holdings LLC now owns 18,013 shares of the biotechnology company's stock valued at $1,497,000 after purchasing an additional 144 shares in the last quarter. Gould Capital LLC boosted its position in shares of Corcept Therapeutics by 50.0% in the 3rd quarter. Gould Capital LLC now owns 600 shares of the biotechnology company's stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Corcept Therapeutics by 3.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 6,904 shares of the biotechnology company's stock worth $240,000 after buying an additional 247 shares during the last quarter. Evergreen Capital Management LLC increased its position in Corcept Therapeutics by 3.0% during the 4th quarter. Evergreen Capital Management LLC now owns 8,609 shares of the biotechnology company's stock valued at $300,000 after buying an additional 248 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Corcept Therapeutics by 3.4% during the 4th quarter. Deutsche Bank AG now owns 8,446 shares of the biotechnology company's stock valued at $294,000 after buying an additional 279 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 1.3%

CORT stock opened at $95.36 on Friday. The stock's 50 day simple moving average is $80.40 and its 200 day simple moving average is $54.47. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $97.63. The stock has a market capitalization of $10.24 billion, a PE ratio of 272.46 and a beta of 0.47.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19). The business had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. On average, research analysts predict that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, CFO Atabak Mokari sold 40,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.15, for a total transaction of $3,246,000.00. Following the transaction, the chief financial officer owned 16,130 shares in the company, valued at approximately $1,308,949.50. This represents a 71.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Guyer sold 20,000 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $93.13, for a total transaction of $1,862,600.00. Following the sale, the insider directly owned 3,985 shares in the company, valued at approximately $371,123.05. The trade was a 83.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 300,000 shares of company stock worth $22,088,050 in the last three months. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CORT has been the topic of several analyst reports. HC Wainwright boosted their target price on Corcept Therapeutics from $75.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $110.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Finally, Truist Financial raised shares of Corcept Therapeutics to a "strong-buy" rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.83.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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