Trek Financial LLC Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Trek Financial LLC acquired 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 SEC. The institutional investor acquired 21,680 shares of the biotechnology company's stock, valued at approximately $2,476,000.

A number of other large investors also recently bought and sold shares of CORT. Canada Pension Plan Investment Board purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $42,000. Gen Wealth Partners Inc acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $67,000. Harvest Fund Management Co. Ltd acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $69,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Insider Transactions at Corcept Therapeutics

In other news, Director David L. Mahoney sold 27,352 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $74.23, for a total transaction of $2,030,338.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the sale, the chief executive officer directly owned 2,901,985 shares of the company's stock, valued at $240,458,477.10. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,233 shares of company stock valued at $17,014,551 in the last three months. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Stock Up 0.9%

Shares of CORT traded up $0.62 during mid-day trading on Tuesday, hitting $68.16. The company had a trading volume of 1,096,840 shares, compared to its average volume of 1,183,079. The business's 50-day simple moving average is $72.80 and its 200-day simple moving average is $66.08. Corcept Therapeutics Incorporated has a 1-year low of $29.42 and a 1-year high of $117.33. The stock has a market cap of $7.23 billion, a PE ratio of 58.76 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The business had revenue of $157.21 million for the quarter, compared to analysts' expectations of $177.93 million. During the same period last year, the company earned $0.25 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CORT shares. Canaccord Genuity Group raised 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. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Piper Sandler raised 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. Finally, 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of "Moderate Buy" and an average 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.