30,272 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Acquired by Oak Ridge Investments LLC

Oak Ridge Investments LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,272 shares of the biotechnology company’s stock, valued at approximately $984,000.

A number of other institutional investors also recently modified their holdings of CORT. Norden Group LLC bought a new stake in Corcept Therapeutics during the first quarter valued at about $50,081,000. Norges Bank bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $24,603,000. Jacobs Levy Equity Management Inc. bought a new stake in Corcept Therapeutics in the 1st quarter valued at $18,426,000. Jupiter Asset Management Ltd. increased its stake in Corcept Therapeutics by 1,149.0% in the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in Corcept Therapeutics in the first quarter worth about $14,670,000. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Up 2.4 %

CORT stock traded up $0.82 during midday trading on Thursday, reaching $34.61. The company’s stock had a trading volume of 219,311 shares, compared to its average volume of 1,292,355. The business’s 50-day simple moving average is $32.66 and its 200-day simple moving average is $27.56. The stock has a market cap of $3.60 billion, a PE ratio of 31.88 and a beta of 0.44. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $39.75.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. Corcept Therapeutics’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.18, for a total transaction of $150,900.00. Following the completion of the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $220,736.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $30.18, for a total transaction of $150,900.00. Following the completion of the transaction, the insider now owns 7,314 shares in the company, valued at approximately $220,736.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $30.21, for a total value of $66,462.00. The disclosure for this sale can be found here. Insiders have sold 35,550 shares of company stock worth $1,178,759 in the last 90 days. Corporate insiders own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $65.00 price objective on shares of Corcept Therapeutics in a research note on Monday, June 17th. HC Wainwright increased their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $46.50.

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.