Envestnet Asset Management Inc. Purchases 8,268 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Envestnet Asset Management Inc. grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 6.6% in the 4th quarter, HoldingsChannel reports. The firm owned 132,641 shares of the biotechnology company’s stock after acquiring an additional 8,268 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Corcept Therapeutics were worth $2,694,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. purchased a new position in Corcept Therapeutics during the 4th quarter valued at about $366,000. ProShare Advisors LLC raised its position in shares of Corcept Therapeutics by 15.9% in the 4th quarter. ProShare Advisors LLC now owns 13,909 shares of the biotechnology company’s stock worth $282,000 after acquiring an additional 1,911 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $437,000. Hsbc Holdings PLC raised its position in shares of Corcept Therapeutics by 84.7% in the 3rd quarter. Hsbc Holdings PLC now owns 33,482 shares of the biotechnology company’s stock worth $872,000 after acquiring an additional 15,355 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Corcept Therapeutics by 7.5% in the 3rd quarter. Algert Global LLC now owns 99,714 shares of the biotechnology company’s stock worth $2,557,000 after acquiring an additional 6,990 shares in the last quarter. Institutional investors own 80.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com assumed coverage on Corcept Therapeutics in a research report on Thursday. They issued a “buy” rating for the company. SVB Leerink reissued a “market perform” rating and issued a $25.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, April 11th. SVB Securities began coverage on Corcept Therapeutics in a research note on Tuesday, April 11th. They issued a “market perform” rating and a $25.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Corcept Therapeutics in a research note on Wednesday, March 1st. Finally, Piper Sandler initiated coverage on Corcept Therapeutics in a report on Tuesday, April 4th. They set an “overweight” rating and a $27.00 price target on the stock. Four research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.29.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Gary Charles Robb sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $23.87, for a total transaction of $716,100.00. Following the completion of the transaction, the insider now owns 33,997 shares in the company, valued at $811,508.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.60% of the stock is currently owned by company insiders.

Corcept Therapeutics Trading Up 0.6 %

CORT opened at $24.44 on Thursday. The firm has a market cap of $2.48 billion, a P/E ratio of 29.80 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12 month low of $17.86 and a 12 month high of $30.14. The stock has a 50-day moving average of $22.29 and a 200 day moving average of $22.76.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $105.70 million during the quarter, compared to analysts’ expectations of $104.91 million. Corcept Therapeutics had a return on equity of 19.37% and a net margin of 22.79%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 EPS. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 0.67 earnings per share for the current fiscal year.

About Corcept Therapeutics

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Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.