Jackson Creek Investment Advisors LLC Lowers Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Jackson Creek Investment Advisors LLC trimmed its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 29.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,960 shares of the biotechnology company's stock after selling 12,895 shares during the quarter. Jackson Creek Investment Advisors LLC's holdings in Corcept Therapeutics were worth $1,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $25,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $58,000. Finally, Principal Securities Inc. boosted its holdings in shares of Corcept Therapeutics by 63.6% in the fourth 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.

Corcept Therapeutics Price Performance

CORT traded down $0.98 during trading on Tuesday, reaching $55.42. 1,332,625 shares of the company traded hands, compared to its average volume of 1,049,088. The company has a market cap of $5.85 billion, a P/E ratio of 43.98 and a beta of 0.61. The firm has a fifty day simple moving average of $60.45 and a 200 day simple moving average of $52.56. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. 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 issued its quarterly earnings data 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 analysts' expectations of $200.12 million. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 18,303 shares of Corcept Therapeutics 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 directly owns 85,622 shares of the company's stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,627 shares of company stock worth $2,557,674. Corporate insiders own 20.50% of the company's stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on 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 reiterated a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Piper Sandler raised 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. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target 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.