Assetmark Inc. Increases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Assetmark Inc. boosted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 221.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,101 shares of the biotechnology company’s stock after buying an additional 38,674 shares during the quarter. Assetmark Inc. owned 0.05% of Corcept Therapeutics worth $1,822,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $36,000. Planned Solutions Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $45,000. Headlands Technologies LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the subject of several recent research reports. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. 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, Truist Financial lifted their price target on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $40.10.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, March 1st. The shares were sold at an average price of $23.59, for a total value of $51,898.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, March 1st. The shares were sold at an average price of $23.59, for a total value of $51,898.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction on Monday, May 13th. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the insider now directly owns 85,222 shares in the company, valued at $2,386,216. The disclosure for this sale can be found here. Insiders have sold 121,572 shares of company stock valued at $3,211,123 in the last ninety days. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Stock Down 1.1 %

Shares of Corcept Therapeutics stock opened at $27.52 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $34.28. The company has a 50 day moving average of $25.02 and a 200 day moving average of $25.21. The company has a market capitalization of $2.87 billion, a P/E ratio of 25.96 and a beta of 0.50.

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