Corcept Therapeutics Incorporated $CORT Shares Newly Acquired by Range Financial Group LLC

Range Financial Group LLC bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,136 shares of the biotechnology company’s stock, valued at approximately $1,283,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of Corcept Therapeutics by 103.1% in the third quarter. Nisa Investment Advisors LLC now owns 32,267 shares of the biotechnology company’s stock valued at $3,718,000 after purchasing an additional 16,376 shares in the last quarter. Redwood Family Wealth LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $230,000. IFP Advisors Inc increased its holdings in shares of Corcept Therapeutics by 48.0% in the third quarter. IFP Advisors Inc now owns 1,345 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 436 shares during the last quarter. Encompass More Asset Management purchased a new position in Corcept Therapeutics during the third quarter worth approximately $690,000. Finally, Krilogy Financial LLC lifted its position in Corcept Therapeutics by 21.2% during the third quarter. Krilogy Financial LLC now owns 7,404 shares of the biotechnology company’s stock worth $897,000 after buying an additional 1,293 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 30,955 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at $1,225,032.90. This trade represents a 76.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David L. Mahoney sold 103,606 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $118.25, for a total value of $12,251,409.50. Following the sale, the director directly owned 1,133,539 shares of the company’s stock, valued at approximately $134,040,986.75. This trade represents a 8.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 454,748 shares of company stock valued at $52,786,210 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CORT. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 28th. HC Wainwright reiterated a “buy” rating and set a $165.00 price target on shares of Corcept Therapeutics in a report on Friday, September 18th. Finally, Weiss Ratings raised shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $138.17.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $116.45 on Wednesday. The company’s 50-day moving average is $115.70 and its two-hundred day moving average is $88.06. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $126.38. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 277.27 and a beta of 0.40.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The business had revenue of $256.15 million during the quarter, compared to the consensus estimate of $221.15 million. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.