Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 31.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,665 shares of the biotechnology company's stock after selling 35,490 shares during the period. Lisanti Capital Growth LLC owned 0.07% of Corcept Therapeutics worth $3,914,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CORT. Wealth Enhancement Advisory Services LLC acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at $238,000. US Bancorp DE increased its position in Corcept Therapeutics by 162.2% during the 3rd quarter. US Bancorp DE now owns 19,683 shares of the biotechnology company's stock worth $911,000 after purchasing an additional 12,177 shares in the last quarter. M&G PLC acquired a new position in Corcept Therapeutics in the 3rd quarter valued at about $11,173,000. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the 3rd quarter valued at about $25,000. Finally, CWA Asset Management Group LLC purchased a new position in Corcept Therapeutics in the 3rd quarter valued at about $963,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CORT has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Piper Sandler raised their price objective on 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.75.

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Insider Buying and Selling

In other news, insider Sean Maduck sold 18,303 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the sale, the insider now owns 85,622 shares of the company's stock, valued at $5,196,399.18. This represents a 17.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 45,627 shares of company stock valued at $2,557,674. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Trading Down 1.7 %

NASDAQ:CORT traded down $0.98 during trading hours on Tuesday, reaching $55.42. 1,332,625 shares of the company were exchanged, compared to its average volume of 1,049,088. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 43.98 and a beta of 0.61. The stock has a 50 day simple moving average of $60.45 and a 200 day simple moving average of $52.56. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00. 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 (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts' consensus estimates 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. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.