Tealwood Asset Management Inc. Purchases 11,433 Shares of Corcept Therapeutics Incorporated $CORT

Tealwood Asset Management Inc. lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 58.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,156 shares of the biotechnology company’s stock after purchasing an additional 11,433 shares during the period. Tealwood Asset Management Inc.’s holdings in Corcept Therapeutics were worth $2,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $28,000. Huntington National Bank raised its stake in shares of Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 168 shares during the last quarter. Employees Retirement System of Texas acquired a new position in shares of Corcept Therapeutics during the second quarter worth $52,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the second quarter worth $56,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Corcept Therapeutics by 277.6% in the second quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock worth $67,000 after purchasing an additional 669 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT opened at $82.65 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $49.00 and a 52-week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The business’s 50 day moving average price is $78.76 and its two-hundred day moving average price is $75.49. The firm has a market cap of $8.69 billion, a PE ratio of 93.92 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $207.64 million for the quarter, compared to analyst estimates of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction on Monday, December 1st. The shares were sold at an average price of $79.77, for a total value of $3,190,800.00. Following the completion of the sale, the chief executive officer directly owned 2,701,370 shares of the company’s stock, valued at approximately $215,488,284.90. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the transaction, the insider owned 7,904 shares in the company, valued at $628,526.08. This represents a 71.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 261,700 shares of company stock valued at $21,002,348. Company insiders own 20.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $140.00 price objective on shares of Corcept Therapeutics in a report on Thursday, September 25th. UBS Group initiated coverage on Corcept Therapeutics in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price target for the company. Wolfe Research began coverage on Corcept Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $127.20.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.