Illumine Investment Management LLC Purchases Shares of 20,481 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Illumine Investment Management LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,481 shares of the biotechnology company's stock, valued at approximately $1,032,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CORT. Creative Planning raised its holdings in shares of Corcept Therapeutics by 7.2% during the third quarter. Creative Planning now owns 12,467 shares of the biotechnology company's stock valued at $577,000 after acquiring an additional 841 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at $238,000. Nisa Investment Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 83.5% in the third quarter. Nisa Investment Advisors LLC now owns 9,851 shares of the biotechnology company's stock valued at $456,000 after purchasing an additional 4,483 shares in the last quarter. abrdn plc boosted its position in shares of Corcept Therapeutics by 27.1% in the third quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock worth $30,867,000 after buying an additional 142,310 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Corcept Therapeutics by 162.2% during the third quarter. US Bancorp DE now owns 19,683 shares of the biotechnology company's stock valued at $911,000 after buying an additional 12,177 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 85,318 shares of the company's stock, valued at $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is currently owned by insiders.

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Corcept Therapeutics Price Performance

NASDAQ CORT traded down $3.08 during trading on Tuesday, reaching $55.99. 1,886,449 shares of the company traded hands, compared to its average volume of 1,005,019. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 44.44 and a beta of 0.58. The stock's 50 day moving average price is $60.12 and its two-hundred day moving average price is $51.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

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

Analysts Set New Price Targets

CORT has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday. Finally, 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 report on Thursday, January 30th. 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.