Burney Co. Increases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Burney Co. raised its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 473,821 shares of the biotechnology company's stock after buying an additional 39,657 shares during the quarter. Corcept Therapeutics makes up approximately 0.8% of Burney Co.'s portfolio, making the stock its 24th biggest position. Burney Co. owned approximately 0.45% of Corcept Therapeutics worth $23,876,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CORT. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the 3rd quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 1,147 shares during the period. KBC Group NV grew its position in 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 buying an additional 496 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Corcept Therapeutics in the 2nd quarter valued at $205,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $2.12 during trading hours on Wednesday, hitting $53.78. The stock had a trading volume of 508,889 shares, compared to its average volume of 741,899. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $62.22. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 42.68 and a beta of 0.51. The stock's fifty day moving average is $54.90 and its two-hundred day moving average is $44.47. 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 (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The firm had revenue of $182.55 million for 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%. The firm's revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Piper Sandler lifted 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. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. StockNews.com downgraded Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. Finally, 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 note on Monday, September 30th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics currently has an average rating of "Buy" and a consensus price target of $65.25.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares in the company, valued at $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. Insiders sold a total of 38,011 shares of company stock valued at $1,951,268 in the last ninety days. 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.