Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,577 shares of the biotechnology company's stock after selling 6,734 shares during the quarter. Assetmark Inc. owned approximately 0.05% of Corcept Therapeutics worth $2,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC grew its holdings in Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock valued at $22,369,000 after purchasing an additional 262,503 shares during the period. Van ECK Associates Corp acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $4,483,000. Empowered Funds LLC purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $1,784,000. Victory Capital Management Inc. increased its holdings in shares of Corcept Therapeutics by 49.2% during the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company's stock worth $1,936,000 after buying an additional 13,787 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after buying an additional 19,893 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Piper Sandler lifted their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $115.00 target price on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $99.75.

Corcept Therapeutics Stock Down 0.3 %

Shares of NASDAQ CORT traded down $0.15 on Thursday, hitting $54.85. The company had a trading volume of 691,713 shares, compared to its average volume of 1,037,280. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. The firm has a market capitalization of $5.79 billion, a P/E ratio of 43.53 and a beta of 0.61. The business has a 50 day moving average of $60.64 and a two-hundred day moving average of $52.72.

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

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.