Hennion & Walsh Asset Management Inc. Raises Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Hennion & Walsh Asset Management Inc. raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 38.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,869 shares of the biotechnology company’s stock after buying an additional 15,335 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.05% of Corcept Therapeutics worth $1,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CORT. FMR LLC lifted its position in shares of Corcept Therapeutics by 102.4% during the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after purchasing an additional 346,000 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Corcept Therapeutics by 18.1% during the 3rd quarter. Hsbc Holdings PLC now owns 26,069 shares of the biotechnology company’s stock worth $707,000 after purchasing an additional 3,993 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Corcept Therapeutics by 26.1% during the 3rd quarter. Natixis Advisors L.P. now owns 23,793 shares of the biotechnology company’s stock worth $648,000 after purchasing an additional 4,921 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Corcept Therapeutics by 4.8% during the 3rd quarter. Trexquant Investment LP now owns 75,772 shares of the biotechnology company’s stock worth $2,064,000 after purchasing an additional 3,481 shares during the last quarter. Finally, Teza Capital Management LLC lifted its position in shares of Corcept Therapeutics by 49.3% during the 3rd quarter. Teza Capital Management LLC now owns 15,631 shares of the biotechnology company’s stock worth $426,000 after purchasing an additional 5,161 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 10,830 shares of Corcept Therapeutics stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $26.00, for a total value of $281,580.00. Following the transaction, the insider now directly owns 7,314 shares in the company, valued at $190,164. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Joseph Douglas Lyon sold 10,830 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $26.00, for a total transaction of $281,580.00. Following the transaction, the insider now directly owns 7,314 shares in the company, valued at $190,164. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $30.39, for a total transaction of $334,290.00. Following the transaction, the insider now owns 20,203 shares in the company, valued at $613,969.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,700 shares of company stock worth $2,562,652. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $32.49 on Monday. The company’s fifty day moving average price is $28.37 and its 200 day moving average price is $26.10. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $35.22. The firm has a market capitalization of $3.38 billion, a P/E ratio of 30.65 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. Corcept Therapeutics’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 0.95 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CORT shares. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Corcept Therapeutics in a research report on Wednesday, May 29th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Truist Financial reiterated a “buy” rating and set a $65.00 price target on shares of Corcept Therapeutics in a research note on Monday, June 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $44.30.

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.