1,000 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Acquired by Park Place Capital Corp

Park Place Capital Corp purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,000 shares of the biotechnology company’s stock, valued at approximately $32,000.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in Corcept Therapeutics during the 1st quarter worth $340,000. Burney Co. increased its stake in shares of Corcept Therapeutics by 3.0% in the 1st quarter. Burney Co. now owns 431,638 shares of the biotechnology company’s stock valued at $10,873,000 after purchasing an additional 12,402 shares during the last quarter. Hancock Whitney Corp increased its stake in shares of Corcept Therapeutics by 130.5% in the 1st quarter. Hancock Whitney Corp now owns 27,497 shares of the biotechnology company’s stock valued at $693,000 after purchasing an additional 15,567 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Corcept Therapeutics in the 1st quarter valued at $18,426,000. Finally, Janus Henderson Group PLC increased its stake in shares of Corcept Therapeutics by 482.6% in the 1st quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after purchasing an additional 219,551 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total transaction of $66,462.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total value of $66,462.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the transaction, the insider now directly owns 85,222 shares of the company’s stock, valued at $2,386,216. The disclosure for this sale can be found here. Insiders have sold 82,627 shares of company stock valued at $2,374,186 in the last ninety days. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Stock Down 7.0 %

CORT traded down $2.64 during midday trading on Friday, hitting $35.30. 1,368,672 shares of the company were exchanged, compared to its average volume of 1,069,810. The firm has a market capitalization of $3.69 billion, a P/E ratio of 33.30 and a beta of 0.44. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $39.75. The firm’s 50 day moving average price is $32.21 and its 200-day moving average price is $26.98.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

CORT has been the topic of several recent analyst reports. Piper Sandler lifted their price target on Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Truist Financial reissued a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a report on Monday, June 17th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. HC Wainwright raised their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Buy” and a consensus price target of $46.50.

Corcept Therapeutics 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.