Range Financial Group LLC Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Range Financial Group LLC acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,452 shares of the biotechnology company’s stock, valued at approximately $1,081,000.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the third quarter worth about $25,000. Kathleen S. Wright Associates Inc. bought a new position in Corcept Therapeutics in the third quarter valued at approximately $36,000. GAMMA Investing LLC increased its holdings in Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,147 shares during the last quarter. KBC Group NV raised its position in shares of Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 496 shares during the period. Finally, Quest Partners LLC boosted its position in shares of Corcept Therapeutics by 23.2% during the second quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 992 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded down $0.41 during mid-day trading on Tuesday, hitting $51.25. 625,311 shares of the stock traded hands, compared to its average volume of 771,836. The firm has a 50 day simple moving average of $54.63 and a two-hundred day simple moving average of $43.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $62.22. The company has a market cap of $5.37 billion, a PE ratio of 40.67 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CORT has been the topic of several research analyst reports. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Truist Financial upped their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the transaction, the insider now directly owns 8,494 shares of the company’s stock, valued at $481,779.68. This represents a 14.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,811 shares of company stock worth $1,840,080. 20.50% of the stock is owned by corporate insiders.

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.