Intech Investment Management LLC Acquires 31,575 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Intech Investment Management LLC increased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 153.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,107 shares of the biotechnology company's stock after purchasing an additional 31,575 shares during the quarter. Intech Investment Management LLC's holdings in Corcept Therapeutics were worth $2,626,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC lifted its position in shares of Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock valued at $22,369,000 after buying an additional 262,503 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at $4,483,000. Victory Capital Management Inc. raised its position in shares of Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company's stock valued at $1,936,000 after purchasing an additional 13,787 shares during the period. Empowered Funds LLC acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $1,784,000. Finally, State Street Corp lifted its holdings in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after purchasing an additional 19,893 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler increased their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. HC Wainwright reissued a "buy" rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday, February 27th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.75.

Insider Activity

In related news, insider Sean Maduck sold 20,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now owns 85,318 shares of the company's stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,627 shares of company stock worth $2,557,674. Insiders own 20.50% of the company's stock.

Corcept Therapeutics Price Performance

CORT traded up $0.81 on Monday, hitting $59.47. 834,034 shares of the stock were exchanged, compared to its average volume of 971,390. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 47.20 and a beta of 0.61. The business has a 50-day moving average of $61.49 and a two-hundred day moving average of $53.95.

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 (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 forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.