Intellectus Partners LLC cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,859 shares of the biotechnology company's stock after selling 5,000 shares during the quarter. Intellectus Partners LLC's holdings in Corcept Therapeutics were worth $2,512,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter worth $25,000. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $27,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $54,000. Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the 4th quarter valued at about $58,000. Finally, Principal Securities Inc. boosted its holdings in Corcept Therapeutics by 63.6% in 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 last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.
Insider Buying and Selling at Corcept Therapeutics
In related news, CEO Joseph K. Belanoff sold 2,924 shares of the firm'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 sale, the chief executive officer now directly owns 3,019,411 shares of the company's stock, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders have sold 45,627 shares of company stock worth $2,557,674 in the last ninety days. 20.50% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on CORT shares. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday, February 27th. Finally, 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 report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.75.
Check Out Our Latest Report on Corcept Therapeutics
Corcept Therapeutics Trading Down 0.8 %
NASDAQ CORT traded down $0.42 on Wednesday, reaching $55.00. 1,038,242 shares of the company were exchanged, compared to its average volume of 1,048,858. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The business's fifty day moving average price is $60.55 and its 200 day moving average price is $52.71. The stock has a market capitalization of $5.80 billion, a P/E ratio of 43.65 and a beta of 0.61. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.
About Corcept Therapeutics
(
Free Report)
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.
Further Reading
Before you consider Corcept Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corcept Therapeutics wasn't on the list.
While Corcept Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
