Atlas Capital Advisors Inc. Acquires New Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Atlas Capital Advisors Inc. bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 10,905 shares of the biotechnology company's stock, valued at approximately $550,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pitcairn Co. acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $209,000. Trexquant Investment LP acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $3,281,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics in the fourth quarter worth $42,000. Franklin Resources Inc. grew its stake in Corcept Therapeutics by 12.8% in the fourth quarter. Franklin Resources Inc. now owns 273,974 shares of the biotechnology company's stock valued at $13,806,000 after purchasing an additional 31,183 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Corcept Therapeutics by 5.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,754 shares of the biotechnology company's stock worth $441,000 after buying an additional 441 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded down $5.84 during mid-day trading on Thursday, reaching $67.13. 709,139 shares of the company were exchanged, compared to its average volume of 1,112,601. 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 12 month low of $20.84 and a 12 month high of $117.33. The firm has a market cap of $7.08 billion, a PE ratio of 53.34 and a beta of 0.15. The company has a fifty day simple moving average of $65.66 and a 200-day simple moving average of $57.35.

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Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on CORT. StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, Truist Financial increased their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.25.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares in the company, valued at approximately $8,608,435.88. The trade was a 53.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,124 shares of company stock worth $15,074,318. 20.50% of the stock is currently owned by insiders.

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.