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

Park Place Capital Corp purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the second quarter, Holdings Channel reports. The firm purchased 1,000 shares of the biotechnology company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cetera Advisors LLC acquired a new position in Corcept Therapeutics during the first quarter worth about $340,000. Burney Co. boosted its position in Corcept Therapeutics by 3.0% during the first quarter. Burney Co. now owns 431,638 shares of the biotechnology company’s stock worth $10,873,000 after acquiring an additional 12,402 shares during the last quarter. Hancock Whitney Corp boosted its position in Corcept Therapeutics by 130.5% during the first quarter. Hancock Whitney Corp now owns 27,497 shares of the biotechnology company’s stock worth $693,000 after acquiring an additional 15,567 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Corcept Therapeutics in the 1st quarter valued at about $18,426,000. Finally, Janus Henderson Group PLC boosted its holdings in 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 currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joseph Douglas Lyon sold 7,227 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were 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 owns 7,314 shares in the company, valued at approximately $190,164. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Joseph Douglas Lyon sold 7,227 shares of the 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 completion of the sale, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total transaction of $66,462.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,627 shares of company stock worth $2,374,186. Corporate insiders own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $46.50.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT traded down $2.64 during trading hours on Friday, reaching $35.30. The stock had a trading volume of 1,368,672 shares, compared to its average volume of 1,069,810. 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 is $32.21 and its 200-day moving average is $26.98. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 33.30 and a beta of 0.44.

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