EP Wealth Advisors LLC Invests $302,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

EP Wealth Advisors LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,524 shares of the biotechnology company’s stock, valued at approximately $302,000.

Several other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at $25,000. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics during the 3rd quarter worth about $36,000. GAMMA Investing LLC increased its position in Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,147 shares in the last quarter. KBC Group NV raised its stake in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 496 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,962 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CORT. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Piper Sandler upped their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial lifted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $65.25.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total transaction of $130,812.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Guyer sold 3,394 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,811 shares of company stock worth $1,341,360. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Down 1.6 %

NASDAQ CORT opened at $55.40 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The stock has a 50-day simple moving average of $53.06 and a 200 day simple moving average of $41.15. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.80 billion, a PE ratio of 43.97 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same period in the prior year, the business posted $0.28 EPS. Corcept Therapeutics’s revenue was up 47.7% on a year-over-year basis. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

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.