HighTower Advisors LLC Grows Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

HighTower Advisors LLC grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 30.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 93,677 shares of the biotechnology company's stock after acquiring an additional 22,011 shares during the period. HighTower Advisors LLC owned about 0.09% of Corcept Therapeutics worth $4,720,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CORT. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $27,000. USA Financial Formulas purchased a new stake in Corcept Therapeutics during the 4th quarter worth approximately $54,000. Newbridge Financial Services Group Inc. purchased a new stake in Corcept Therapeutics during the 4th quarter worth approximately $58,000. Principal Securities Inc. increased its stake in 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 buying an additional 483 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in 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 buying an additional 1,795 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Maduck sold 18,303 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the completion of the transaction, the insider now owns 85,622 shares of the company's stock, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,627 shares of company stock worth $2,557,674 in the last 90 days. Corporate insiders own 20.50% of the company's stock.

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Corcept Therapeutics Stock Up 1.9 %

NASDAQ CORT traded up $1.07 on Friday, hitting $58.66. 1,943,513 shares of the stock were exchanged, compared to its average volume of 971,942. 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 fifty-two week low of $20.84 and a fifty-two week high of $75.00. The company has a market cap of $6.19 billion, a PE ratio of 46.56 and a beta of 0.61. The company has a 50-day moving average price of $61.49 and a 200-day moving average price of $53.81.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly 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). 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 for the quarter, compared to analyst estimates of $200.12 million. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CORT. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Piper Sandler upped their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $99.75.

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.