Arrowstreet Capital Limited Partnership Purchases 64,321 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,644,942 shares of the biotechnology company's stock after acquiring an additional 64,321 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.57% of Corcept Therapeutics worth $82,889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. denkapparat Operations GmbH bought a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $302,000. Pictet Asset Management Holding SA lifted its holdings in shares of Corcept Therapeutics by 13.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,538 shares of the biotechnology company's stock worth $682,000 after acquiring an additional 1,639 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $177,000. Norges Bank purchased a new position in Corcept Therapeutics in the fourth quarter worth $42,055,000. Finally, JPMorgan Chase & Co. increased its stake in Corcept Therapeutics by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock valued at $13,096,000 after acquiring an additional 6,832 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Down 6.2 %

Shares of NASDAQ CORT traded down $4.92 during mid-day trading on Friday, hitting $74.45. The stock had a trading volume of 2,540,279 shares, compared to its average volume of 1,099,324. The business has a 50 day moving average price of $64.81 and a two-hundred day moving average price of $56.40. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $7.85 billion, a P/E ratio of 59.09 and a beta of 0.14.

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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). The firm had revenue of $181.89 million during the quarter, compared to analysts' expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 85,622 shares in the company, valued at approximately $8,608,435.88. This represents a 53.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 35,102 shares of Corcept Therapeutics stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the sale, the chief executive officer now directly owns 2,982,335 shares in the company, valued at $282,486,771.20. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock valued at $15,074,318 in the last 90 days. Insiders own 20.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.