Evergreen Capital Management LLC Makes New $217,000 Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Evergreen Capital Management LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 6,664 shares of the biotechnology company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in Corcept Therapeutics by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after acquiring an additional 510 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock worth $4,138,000 after purchasing an additional 541 shares in the last quarter. GAMMA Investing LLC grew its position in Corcept Therapeutics by 90.6% during the 1st 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 last quarter. Quest Partners LLC increased its stake in Corcept Therapeutics by 23.2% during the 2nd quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company’s stock valued at $171,000 after purchasing an additional 992 shares in the last quarter. Finally, Park Place Capital Corp purchased a new position in shares of Corcept Therapeutics in the second quarter worth $32,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. HC Wainwright boosted their price objective 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. Piper Sandler boosted their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Corcept Therapeutics in a research note on Monday, June 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five research 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 a consensus price target of $53.75.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $43.93 on Friday. The firm’s fifty day moving average is $36.39 and its two-hundred day moving average is $30.68. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 41.44 and a beta of 0.45. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $44.37.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company’s revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. In other news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the sale, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.49, for a total value of $162,450.00. Following the completion of the transaction, the insider now owns 9,290 shares of the company’s stock, valued at approximately $301,832.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,451 shares of company stock worth $1,090,844. Corporate insiders own 20.50% of the company’s stock.

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.