Corcept Therapeutics Incorporated (NASDAQ:CORT) Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,051,560 shares of the biotechnology company's stock after purchasing an additional 25,073 shares during the period. Charles Schwab Investment Management Inc. owned 1.00% of Corcept Therapeutics worth $52,988,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics in the 4th quarter valued at about $27,000. USA Financial Formulas purchased a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the fourth quarter worth approximately $58,000. Principal Securities Inc. raised its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after purchasing an additional 483 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Corcept Therapeutics by 311.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company's stock valued at $121,000 after purchasing an additional 1,795 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Over 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 company insiders.

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Corcept Therapeutics Stock Up 3.3 %

Shares of NASDAQ CORT traded up $1.87 on Monday, hitting $57.88. The company had a trading volume of 1,049,740 shares, compared to its average volume of 970,402. 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 $6.11 billion, a P/E ratio of 45.94 and a beta of 0.61. The business has a 50 day moving average of $60.84 and a two-hundred day moving average of $53.14.

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.

Analyst Upgrades and Downgrades

CORT has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 target price on shares of Corcept Therapeutics in a research report on Thursday, February 27th. 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. Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $99.75.

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.