Goldstone Financial Group LLC Buys Shares of 4,786 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Goldstone Financial Group LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,786 shares of the biotechnology company's stock, valued at approximately $547,000.

Several other large investors have also made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Corcept Therapeutics by 285.3% in the first quarter. SG Americas Securities LLC now owns 43,109 shares of the biotechnology company's stock worth $4,924,000 after buying an additional 31,922 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Corcept Therapeutics in the first quarter valued at approximately $228,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 411 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Corcept Therapeutics in the 1st quarter worth approximately $458,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth approximately $584,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Up 1.3%

NASDAQ:CORT traded up $0.95 during trading hours on Tuesday, reaching $71.85. 789,626 shares of the company were exchanged, compared to its average volume of 1,136,197. The firm has a market cap of $7.62 billion, a PE ratio of 61.94 and a beta of 0.19. Corcept Therapeutics Incorporated has a twelve month low of $28.09 and a twelve month high of $117.33. The stock's 50-day moving average is $71.47 and its 200-day moving average is $64.53.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting 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 net margin of 19.33% and a return on equity of 20.40%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. HC Wainwright reduced their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial set a $135.00 price target 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.25.

Insider Activity

In related news, insider Joseph Douglas Lyon sold 421 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the sale, the insider now owns 9,009 shares of the company's stock, valued at approximately $545,765.22. This represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the sale, the insider now owns 85,622 shares of the company's stock, valued at approximately $8,608,435.88. The trade was a 53.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 362,325 shares of company stock worth $30,509,238 over the last quarter. 20.50% of the stock is currently owned by corporate 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.