LPL Financial LLC Has $3.06 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

LPL Financial LLC increased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,682 shares of the biotechnology company's stock after acquiring an additional 19,650 shares during the period. LPL Financial LLC owned about 0.06% of Corcept Therapeutics worth $3,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CORT. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $27,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $58,000. Principal Securities Inc. boosted its position in Corcept Therapeutics by 63.6% during the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 483 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $69,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Douglas Lyon sold 421 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock worth $15,117,614 over the last three months. Insiders own 20.50% of the company's stock.

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Corcept Therapeutics Stock Performance

Shares of CORT traded down $4.30 during mid-day trading on Wednesday, reaching $65.29. The company's stock had a trading volume of 793,452 shares, compared to its average volume of 1,406,262. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $117.33. The business has a 50-day simple moving average of $65.73 and a two-hundred day simple moving average of $58.04. The stock has a market cap of $6.89 billion, a P/E ratio of 51.82 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced 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 net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. As a group, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HC Wainwright increased their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Truist Financial lifted their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Piper Sandler increased their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. Finally, StockNews.com lowered 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 issued a buy rating to the stock. According to MarketBeat, Corcept Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $143.25.

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.