Edgestream Partners L.P. Invests $1.52 Million in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Edgestream Partners L.P. bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 60,291 shares of the biotechnology company’s stock, valued at approximately $1,519,000. Edgestream Partners L.P. owned approximately 0.06% of Corcept Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in Corcept Therapeutics by 17.7% in the 4th quarter. SG Americas Securities LLC now owns 213,810 shares of the biotechnology company’s stock worth $6,945,000 after purchasing an additional 32,185 shares during the period. FNY Investment Advisers LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth about $32,000. Planned Solutions Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $45,000. Boston Trust Walden Corp lifted its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after purchasing an additional 19,877 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 500 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CORT. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Piper Sandler restated an “overweight” rating and set a $35.00 price objective on shares of Corcept Therapeutics in a research note on Monday, July 1st. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Corcept Therapeutics in a research report on Wednesday, May 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics currently has an average rating of “Buy” and an average price target of $45.10.

Insider Buying and Selling

In other news, insider Joseph Douglas Lyon sold 7,227 shares of Corcept Therapeutics stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $26.00, for a total transaction of $187,902.00. Following the transaction, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Corcept Therapeutics news, insider Sean Maduck sold 50,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares in the company, valued at $2,386,216. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 7,227 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $26.00, for a total value of $187,902.00. Following the completion of the transaction, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,457 shares of company stock valued at $2,655,766. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Stock Up 2.0 %

CORT traded up $0.69 during mid-day trading on Monday, reaching $34.57. 811,310 shares of the company traded hands, compared to its average volume of 1,320,032. The company’s fifty day moving average price is $30.78 and its 200-day moving average price is $26.25. The stock has a market capitalization of $3.60 billion, a P/E ratio of 32.61 and a beta of 0.44. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $35.22.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $146.80 million for the quarter, compared to the consensus estimate of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. Corcept Therapeutics’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.95 earnings per share for the current fiscal year.

Corcept Therapeutics Company 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.