Clearbridge Investments LLC Has $24.26 Million Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Clearbridge Investments LLC reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 481,389 shares of the biotechnology company's stock after selling 52,304 shares during the period. Clearbridge Investments LLC owned approximately 0.46% of Corcept Therapeutics worth $24,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CORT. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $27,000. USA Financial Formulas acquired a new position in Corcept Therapeutics in the fourth quarter worth about $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics in the fourth quarter valued at about $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 valued at $63,000 after buying an additional 483 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $69,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock traded down $4.92 during midday trading on Friday, reaching $74.45. 2,540,279 shares of the stock traded hands, compared to its average volume of 1,099,324. The firm has a fifty day moving average price of $64.81 and a two-hundred day moving average price of $56.50. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $117.33. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

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Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued 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). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the sale, the insider now owns 85,622 shares of the company's stock, valued at approximately $8,608,435.88. This trade represents a 53.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,124 shares of company stock valued at $15,074,318. 20.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CORT. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Truist Financial boosted their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. HC Wainwright boosted their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $143.25.

Corcept Therapeutics Company 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.