Cornercap Investment Counsel Inc. Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cornercap Investment Counsel Inc. bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,256 shares of the biotechnology company’s stock, valued at approximately $625,000.

Other hedge funds have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $27,000. Lazard Asset Management LLC purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $28,000. FNY Investment Advisers LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $39,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $45,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Trading Up 1.0 %

NASDAQ CORT opened at $23.39 on Wednesday. The company has a fifty day simple moving average of $23.91 and a two-hundred day simple moving average of $25.54. The stock has a market cap of $2.42 billion, a P/E ratio of 24.62 and a beta of 0.48. Corcept Therapeutics Incorporated has a 12-month low of $20.87 and a 12-month high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The company’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at $190,164. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at $190,164. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,783 shares of company stock valued at $2,118,996. Corporate insiders own 18.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. HC Wainwright decreased their target price on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. Finally, Truist Financial increased their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and an average price target of $37.30.

About Corcept Therapeutics

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.