AlphaMark Advisors LLC Grows Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

AlphaMark Advisors LLC increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2,269.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,739 shares of the biotechnology company’s stock after purchasing an additional 9,328 shares during the period. AlphaMark Advisors LLC’s holdings in Corcept Therapeutics were worth $451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CORT. Norden Group LLC bought a new position in shares of Corcept Therapeutics during the first quarter worth $50,081,000. Jacobs Levy Equity Management Inc. purchased a new position in Corcept Therapeutics in the first quarter worth about $18,426,000. Jupiter Asset Management Ltd. increased its stake in Corcept Therapeutics by 1,149.0% during the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after acquiring an additional 684,863 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Corcept Therapeutics during the first quarter valued at approximately $14,670,000. Finally, Vanguard Group Inc. lifted its stake in shares of Corcept Therapeutics by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 9,537,532 shares of the biotechnology company’s stock valued at $309,779,000 after purchasing an additional 239,887 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $47.17 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $48.46. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 44.50 and a beta of 0.46. The stock’s 50-day simple moving average is $39.34 and its 200-day simple moving average is $32.76.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Corcept Therapeutics’s revenue was up 39.1% compared to the same quarter last year. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler increased their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Truist Financial lifted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, HC Wainwright increased their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $56.50.

Insider Activity at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now directly owns 22,772 shares in the company, valued at $1,053,888.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the sale, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,251 shares of company stock valued at $1,365,292 in the last ninety days. Company insiders own 20.50% of the company’s stock.

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.