Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,734 shares of the biotechnology company's stock after buying an additional 15,838 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Corcept Therapeutics worth $5,271,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics in the 4th quarter worth $27,000. Canada Pension Plan Investment Board purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the 4th quarter valued at about $42,000. USA Financial Formulas acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $58,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 18,303 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,124 shares of company stock valued at $15,117,614 in the last three months. Corporate insiders own 20.50% of the company's stock.

Corcept Therapeutics Trading Down 0.1 %

Shares of NASDAQ CORT traded down $0.08 during midday trading on Friday, hitting $71.71. The stock had a trading volume of 1,278,548 shares, compared to its average volume of 1,127,799. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 56.91 and a beta of 0.15. The company has a fifty day moving average price of $65.01 and a 200 day moving average price of $59.18. Corcept Therapeutics Incorporated has a 1-year low of $22.60 and a 1-year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted 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 for 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, analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.