AlphaMark Advisors LLC Acquires Shares of 9,375 Corcept Therapeutics Incorporated (NASDAQ:CORT)

AlphaMark Advisors LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,375 shares of the biotechnology company’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Corcept Therapeutics by 38.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 54,869 shares of the biotechnology company’s stock valued at $1,382,000 after acquiring an additional 15,335 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $125,000. Clearview Wealth Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the 1st quarter valued at about $362,000. GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Corcept Therapeutics by 28.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,008 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 2,432 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the sale, the insider now owns 7,314 shares in the company, valued at $190,164. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.21, for a total transaction of $66,462.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 5,443 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The disclosure for this sale can be found here. Insiders have sold 91,700 shares of company stock valued at $2,562,652 over the last 90 days. 20.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Corcept Therapeutics Price Performance

Shares of CORT traded up $0.18 on Monday, reaching $32.67. The company’s stock had a trading volume of 1,177,522 shares, compared to its average volume of 1,380,030. The stock has a market capitalization of $3.40 billion, a P/E ratio of 30.82 and a beta of 0.44. The stock’s 50 day simple moving average is $28.58 and its two-hundred day simple moving average is $26.12. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $35.22.

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

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.