Cookson Peirce & Co. Inc. Acquires New Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cookson Peirce & Co. Inc. acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 36,603 shares of the biotechnology company's stock, valued at approximately $1,844,000.

Other large investors have also added to or reduced their stakes in the company. Black Diamond Financial LLC raised its holdings in Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock worth $262,000 after purchasing an additional 200 shares during the last quarter. Hancock Whitney Corp raised its holdings in Corcept Therapeutics by 1.2% during the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock worth $1,062,000 after purchasing an additional 270 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Corcept Therapeutics by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company's stock valued at $2,395,000 after acquiring an additional 368 shares in the last quarter. Westover Capital Advisors LLC increased 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 acquiring an additional 456 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 483 shares in the last quarter. Institutional investors own 93.61% of the company's stock.

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Corcept Therapeutics Stock Up 2.0 %

CORT traded up $1.10 during mid-day trading on Friday, reaching $55.40. 1,439,423 shares of the stock were exchanged, compared to its average volume of 1,035,462. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a market capitalization of $5.84 billion, a PE ratio of 43.97 and a beta of 0.58. The company has a 50 day moving average price of $60.34 and a two-hundred day moving average price of $52.16. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00.

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 return on equity of 24.54% and a net margin of 22.35%. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CORT shares. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. 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 research note on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $99.75.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph K. Belanoff sold 2,924 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,827 shares of company stock valued at $2,688,486 in the last three months. 20.50% of the stock is currently owned by insiders.

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.