Lisanti Capital Growth LLC Invests $2.05 Million in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Lisanti Capital Growth LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 62,995 shares of the biotechnology company’s stock, valued at approximately $2,047,000. Lisanti Capital Growth LLC owned approximately 0.06% of Corcept Therapeutics at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CORT. Norden Group LLC bought a new stake in shares of Corcept Therapeutics during the first quarter valued at approximately $50,081,000. Norges Bank bought a new stake in Corcept Therapeutics during the 4th quarter valued at $24,603,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Corcept Therapeutics during the 1st quarter worth $18,426,000. Jupiter Asset Management Ltd. grew its position in shares of Corcept Therapeutics by 1,149.0% during the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock worth $18,753,000 after buying an additional 684,863 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Corcept Therapeutics during the first quarter valued at $14,670,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now owns 23,190 shares in the company, valued at $828,114.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.18, for a total transaction of $150,900.00. Following the completion of the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $220,736.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the sale, the insider now directly owns 23,190 shares of the company’s stock, valued at $828,114.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,651 shares of company stock worth $955,206. 20.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CORT has been the topic of several research reports. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. HC Wainwright lifted their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler raised their price target on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Truist Financial reiterated a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a research note on Monday, June 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $46.50.

Corcept Therapeutics Price Performance

NASDAQ CORT traded up $0.16 during trading on Friday, hitting $35.30. The company’s stock had a trading volume of 689,639 shares, compared to its average volume of 622,531. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $39.75. The company has a market cap of $3.69 billion, a PE ratio of 33.30 and a beta of 0.44. The business’s 50 day simple moving average is $33.57 and its 200-day simple moving average is $28.60.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping 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 firm 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 earnings per share. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. Analysts expect that Corcept Therapeutics Incorporated will post 1.1 EPS 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.