Alpha DNA Investment Management LLC Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Alpha DNA Investment Management LLC purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, Holdings Channel reports. The institutional investor purchased 10,016 shares of the biotechnology company’s stock, valued at approximately $464,000.

Several other hedge funds also recently made changes to their positions in CORT. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics during the 3rd quarter valued at about $25,000. Park Place Capital Corp purchased a new position in Corcept Therapeutics during the second quarter valued at approximately $32,000. Atwood & Palmer Inc. bought a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $36,000. Finally, Blue Trust Inc. boosted its holdings in Corcept Therapeutics by 125.4% in the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,962 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 2.9 %

Shares of CORT opened at $57.54 on Monday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $61.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a 50 day simple moving average of $48.41 and a two-hundred day simple moving average of $38.07. The firm has a market cap of $6.03 billion, a P/E ratio of 45.67 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CORT has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial lifted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $65.25.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William Guyer sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now owns 6,039 shares of the company’s stock, valued at $213,176.70. This represents a 62.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,200 shares of company stock valued at $1,483,516. 20.50% of the stock is currently owned by insiders.

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.