Sheaff Brock Investment Advisors LLC Invests $951,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Key Points

• Sheaff Brock Investment Advisors LLC has invested approximately $951,000 in Corcept Therapeutics, acquiring 8,329 shares in the biotechnology company in the first quarter.
• Institutional investors and hedge funds own 93.61% of Corcept Therapeutics' stock, reflecting significant interest in the company from major financial entities.
• Analysts have set a consensus price target of $138.25 for Corcept Therapeutics, with the stock currently rated as a "Moderate Buy" according to MarketBeat.com.

Sheaff Brock Investment Advisors LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,329 shares of the biotechnology company's stock, valued at approximately $951,000.

A number of other hedge funds also recently modified their holdings of CORT. Vanguard Group Inc. raised its stake in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after purchasing an additional 109,294 shares in the last quarter. Parallel Advisors LLC raised its stake in Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock worth $453,729,000 after purchasing an additional 142,784 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after purchasing an additional 64,321 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after purchasing an additional 153,100 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Corcept Therapeutics by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company's stock worth $51,172,000 after purchasing an additional 94,128 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CORT shares. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. HC Wainwright dropped their target price 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. 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 report on Thursday, April 3rd. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

Corcept Therapeutics Trading Up 1.3%

Shares of NASDAQ:CORT opened at $69.15 on Tuesday. The firm has a 50 day moving average of $72.27 and a 200-day moving average of $68.09. The stock has a market capitalization of $7.33 billion, a PE ratio of 59.61 and a beta of 0.15. Corcept Therapeutics Incorporated has a 12 month low of $32.33 and a 12 month high of $117.33.

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. The company had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 3,877 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $73.48, for a total transaction of $284,881.96. Following the sale, the insider directly owned 10,066 shares of the company's stock, valued at approximately $739,649.68. The trade was a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Guyer sold 500 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $73.44, for a total transaction of $36,720.00. Following the sale, the insider directly owned 5,487 shares in the company, valued at $402,965.28. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 239,592 shares of company stock worth $18,071,616 in the last ninety days. Insiders own 20.50% of the company's stock.

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.

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