Connor Clark & Lunn Investment Management Ltd. Sells 62,768 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 796,795 shares of the biotechnology company's stock after selling 62,768 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.76% of Corcept Therapeutics worth $40,150,000 at the end of the most recent reporting period.

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

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of the company'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 owns 85,318 shares in the company, valued at $4,299,174.02. This represents a 18.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was 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. Insiders sold a total of 45,627 shares of company stock worth $2,557,674 over the last three months. 20.50% of the stock is owned by company insiders.

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Corcept Therapeutics Trading Up 2.1 %

NASDAQ CORT traded up $1.16 on Friday, hitting $56.01. The company's stock had a trading volume of 753,450 shares, compared to its average volume of 1,035,546. 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 1-year low of $20.84 and a 1-year high of $75.00. The firm has a market cap of $5.91 billion, a PE ratio of 44.45 and a beta of 0.61. The company's 50-day moving average is $60.84 and its 200 day moving average is $53.01.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on CORT shares. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Piper Sandler boosted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. 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, Corcept Therapeutics presently has an average 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.