7,567 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,567 shares of the biotechnology company's stock, valued at approximately $381,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Black Diamond Financial LLC lifted its position in shares of Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after acquiring an additional 200 shares during the period. Hancock Whitney Corp raised its holdings in shares of Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock valued at $1,062,000 after purchasing an additional 270 shares during the period. Arizona State Retirement System raised its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock valued at $1,374,000 after purchasing an additional 289 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Corcept Therapeutics by 0.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company's stock worth $2,395,000 after purchasing an additional 368 shares in the last quarter. Finally, Westover Capital Advisors LLC grew its stake in shares of Corcept Therapeutics by 3.0% in the 4th quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company's stock valued at $785,000 after buying an additional 456 shares during the period. 93.61% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,022 shares of company stock valued at $2,703,257 in the last 90 days. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Stock Down 0.8 %

Corcept Therapeutics stock traded down $0.43 during trading on Thursday, hitting $56.68. 431,494 shares of the company were exchanged, compared to its average volume of 968,580. The company has a market capitalization of $5.98 billion, a P/E ratio of 44.98 and a beta of 0.61. The business's 50 day moving average is $61.86 and its 200 day moving average is $54.31. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CORT. HC Wainwright reiterated a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. 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. StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.75.

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.