Quest Partners LLC Grows Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Quest Partners LLC grew its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,266 shares of the biotechnology company’s stock after acquiring an additional 992 shares during the period. Quest Partners LLC’s holdings in Corcept Therapeutics were worth $171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC raised its position in Corcept Therapeutics by 15.8% in the second quarter. Norden Group LLC now owns 135,326 shares of the biotechnology company’s stock valued at $4,397,000 after purchasing an additional 18,476 shares during the period. Savant Capital LLC grew its stake in shares of Corcept Therapeutics by 44.0% in the second quarter. Savant Capital LLC now owns 18,325 shares of the biotechnology company’s stock valued at $595,000 after buying an additional 5,602 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Corcept Therapeutics during the 2nd quarter valued at about $219,000. Arizona State Retirement System lifted its position in Corcept Therapeutics by 8.3% during the 2nd quarter. Arizona State Retirement System now owns 26,081 shares of the biotechnology company’s stock worth $847,000 after acquiring an additional 2,001 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Corcept Therapeutics by 16.0% in the 2nd quarter. Natixis Advisors LLC now owns 20,660 shares of the biotechnology company’s stock worth $671,000 after acquiring an additional 2,854 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of recent research reports. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. HC Wainwright lifted their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Truist Financial reissued a “buy” rating and issued a $65.00 price target on shares of Corcept Therapeutics in a report on Monday, June 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $46.50.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $32.49, for a total transaction of $162,450.00. Following the completion of the transaction, the insider now directly owns 9,290 shares in the company, valued at approximately $301,832.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.81, for a total value of $72,182.00. The disclosure for this sale can be found here. Insiders have sold 30,451 shares of company stock worth $1,090,844 over the last ninety days. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $38.11 on Monday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $39.75. The firm’s 50-day simple moving average is $34.36 and its 200-day simple moving average is $29.44. The firm has a market cap of $3.98 billion, a PE ratio of 35.95 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. Corcept Therapeutics’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current 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.