Vilga Financial Planning LLC Acquires 13,046 Shares of Corcept Therapeutics Incorporated $CORT

Key Points

• Vilga Financial Planning LLC initiated a position in Corcept Therapeutics, purchasing 13,046 shares worth approximately $1.5 million. Institutional investors collectively own 93.61% of the company.
• Corcept reported strong quarterly results, with revenue rising 31.7% year over year to $256.15 million and earnings of $0.36 per share, exceeding analysts’ $0.02 estimate.
• Insiders sold 444,748 shares valued at $51.6 million over the past three months, while analyst sentiment remains a “Moderate Buy” with a consensus price target of $138.17.

Vilga Financial Planning LLC bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,046 shares of the biotechnology company's stock, valued at approximately $1,503,000. Corcept Therapeutics accounts for about 0.9% of Vilga Financial Planning LLC's investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in CORT. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Corcept Therapeutics by 1.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,617 shares of the biotechnology company's stock worth $923,000 after purchasing an additional 184 shares during the last quarter. State of Wyoming boosted its position in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company's stock valued at $33,000 after buying an additional 186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at about $27,000. Campbell Newman Asset Management Inc. grew its stake in Corcept Therapeutics by 1.9% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 17,251 shares of the biotechnology company's stock worth $695,000 after acquiring an additional 320 shares in the last quarter. Finally, Gould Capital LLC grew its stake in Corcept Therapeutics by 66.7% in the 1st quarter. Gould Capital LLC now owns 1,000 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 400 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Sean Maduck sold 24,587 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $116.28, for a total value of $2,858,976.36. Following the completion of the sale, the insider owned 9,938 shares of the company's stock, valued at $1,155,590.64. This trade represents a 71.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Roberto Vieira sold 8,333 shares of the business's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $116.10, for a total value of $967,461.30. Following the transaction, the insider owned 3,946 shares in the company, valued at approximately $458,130.60. This trade represents a 67.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 444,748 shares of company stock worth $51,638,110. 20.70% of the stock is currently owned by insiders.

Corcept Therapeutics Trading Down 0.9%

CORT opened at $118.54 on Friday. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 282.24 and a beta of 0.40. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $126.38. The stock has a fifty day moving average price of $114.99 and a 200-day moving average price of $83.67.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. During the same period in the previous year, the company posted $0.29 earnings per share. The firm's revenue was up 31.7% on a year-over-year basis. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

CORT has been the subject of a number of research reports. Zacks Research upgraded Corcept Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Monday, September 28th. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Wolfe Research cut Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $50.00 target price for the company. in a report on Monday, July 27th. Truist Financial assumed coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They set a "buy" rating and a $164.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $165.00 price objective on shares of Corcept Therapeutics in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $138.17.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated is a biopharmaceutical company focused on discovering, developing and commercializing medicines that modulate the glucocorticoid receptor. The company's research is based on the role of excess cortisol activity in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept's principal commercial product is Korlym (mifepristone), a glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing's syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have had unsuccessful surgery.

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