Mutual of America Capital Management LLC Increases Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Mutual of America Capital Management LLC lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 94.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 263,296 shares of the biotechnology company’s stock after buying an additional 128,194 shares during the period. Mutual of America Capital Management LLC owned 0.25% of Corcept Therapeutics worth $8,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Place Capital Corp purchased a new position in Corcept Therapeutics during the second quarter worth approximately $32,000. Atwood & Palmer Inc. purchased a new position in Corcept Therapeutics during the second quarter worth approximately $35,000. GAMMA Investing LLC raised its stake in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the period. FinTrust Capital Advisors LLC raised its stake in Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Corcept Therapeutics by 27.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $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

A number of equities analysts have weighed in on CORT shares. HC Wainwright increased their price target on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a research note on Monday, June 17th. Piper Sandler raised their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.75.

Corcept Therapeutics Trading Up 6.4 %

Shares of CORT stock opened at $42.27 on Thursday. The company’s fifty day simple moving average is $34.97 and its 200-day simple moving average is $29.79. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $43.32. The company has a market cap of $4.40 billion, a PE ratio of 39.88 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business’s revenue was up 39.1% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.1 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.49, for a total transaction of $162,450.00. Following the sale, the insider now directly owns 9,290 shares of the company’s stock, valued at $301,832.10. The disclosure for this sale can be found here. In the last three months, insiders sold 30,451 shares of company stock valued at $1,090,844. Corporate insiders own 20.50% of the company’s stock.

About Corcept Therapeutics

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.