Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Assetmark Inc.

Posted by Defense World Staff on Aug 11th, 2023

Assetmark Inc. lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,015 shares of the biotechnology company’s stock after purchasing an additional 3,325 shares during the quarter. Assetmark Inc.’s holdings in Corcept Therapeutics were worth $910,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Dark Forest Capital Management LP purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth $31,000. CWM LLC raised its position in shares of Corcept Therapeutics by 392.8% in the 1st quarter. CWM LLC now owns 2,134 shares of the biotechnology company’s stock worth $46,000 after buying an additional 1,701 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of Corcept Therapeutics in the 1st quarter worth $47,000. Quantbot Technologies LP purchased a new position in shares of Corcept Therapeutics in the 2nd quarter worth $76,000. Finally, Point72 Middle East FZE purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth $107,000. Institutional investors and hedge funds own 84.72% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $30.70 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $17.86 and a 1 year high of $31.90. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 36.99 and a beta of 0.51. The stock’s 50-day simple moving average is $23.89 and its 200-day simple moving average is $23.00.

Corcept Therapeutics (NASDAQ:CORT – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.10. Corcept Therapeutics had a return on equity of 19.57% and a net margin of 22.02%. The business had revenue of $117.72 million for the quarter, compared to analyst estimates of $109.60 million. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 0.72 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $23.60, for a total transaction of $236,000.00. Following the sale, the chief accounting officer now directly owns 5,132 shares of the company’s stock, valued at $121,115.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Joseph Douglas Lyon sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $23.60, for a total value of $236,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,132 shares in the company, valued at $121,115.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,850 shares of Corcept Therapeutics stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $30.14, for a total value of $85,899.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,262 shares of company stock valued at $334,762. 18.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. LADENBURG THALM/SH SH increased their target price on Corcept Therapeutics from $44.00 to $47.50 in a research report on Thursday, August 3rd. Truist Financial raised their price objective on Corcept Therapeutics from $26.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. StockNews.com began coverage on Corcept Therapeutics in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Piper Sandler raised their price objective on Corcept Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, HC Wainwright raised their price objective on Corcept Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $30.44.

Read Our Latest Research Report on CORT

About Corcept Therapeutics

(Free Report)

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.