Juncture Wealth Strategies LLC Purchases New Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Juncture Wealth Strategies LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,538 shares of the biotechnology company's stock, valued at approximately $633,000.

A number of other institutional investors also recently modified their holdings of CORT. KBC Group NV grew its stake in shares of Corcept Therapeutics by 45.9% in the fourth quarter. KBC Group NV now owns 4,118 shares of the biotechnology company's stock worth $208,000 after acquiring an additional 1,296 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Corcept Therapeutics by 18.3% in the fourth quarter. Pacer Advisors Inc. now owns 10,896 shares of the biotechnology company's stock worth $549,000 after acquiring an additional 1,689 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of Corcept Therapeutics by 10.3% in the fourth quarter. Meritage Portfolio Management now owns 29,811 shares of the biotechnology company's stock worth $1,502,000 after acquiring an additional 2,783 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Corcept Therapeutics by 6.5% in the fourth quarter. Empowered Funds LLC now owns 41,048 shares of the biotechnology company's stock worth $2,068,000 after acquiring an additional 2,507 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $58,000. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

CORT traded up $0.59 during trading on Friday, reaching $69.60. 972,774 shares of the company's stock were exchanged, compared to its average volume of 1,148,681. Corcept Therapeutics Incorporated has a fifty-two week low of $28.04 and a fifty-two week high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $72.03 and a 200 day moving average price of $63.83. The company has a market capitalization of $7.38 billion, a P/E ratio of 55.24 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. During the same quarter in the previous year, the company earned $0.25 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Joseph K. Belanoff sold 1,974 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $60.83, for a total value of $120,078.42. Following the sale, the chief executive officer now owns 3,017,437 shares in the company, valued at approximately $183,550,692.71. The trade was a 0.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at $545,765.22. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,125 shares of company stock worth $28,905,496. Corporate insiders own 20.80% of the company's stock.

Wall Street Analyst Weigh In

CORT has been the topic of several research analyst reports. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Canaccord Genuity Group lifted their price target 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. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.25.

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.