Corient Private Wealth LLC Takes $205,000 Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Corient Private Wealth LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,061 shares of the biotechnology company's stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company's stock valued at $56,637,000 after purchasing an additional 352,947 shares during the last quarter. Braun Stacey Associates Inc. purchased a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $14,935,000. FMR LLC boosted its holdings in shares of Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company's stock valued at $63,122,000 after acquiring an additional 269,074 shares during the period. Synergy Asset Management LLC grew its position in shares of Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after acquiring an additional 262,503 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $12,084,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

CORT traded down $4.92 during trading on Friday, reaching $74.45. The company's stock had a trading volume of 2,540,279 shares, compared to its average volume of 1,099,324. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14. The company's fifty day moving average price is $64.81 and its 200-day moving average price is $56.50. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

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

Wall Street Analyst Weigh In

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

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at approximately $545,765.22. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock worth $15,074,318 over the last 90 days. Company insiders own 20.50% of the company's stock.

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.