Oppenheimer & Co. Inc. Sells 8,774 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Oppenheimer & Co. Inc. reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,000 shares of the biotechnology company's stock after selling 8,774 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Corcept Therapeutics were worth $806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CORT. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter worth $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the fourth quarter worth $27,000. USA Financial Formulas acquired a new position in Corcept Therapeutics during the fourth quarter worth $54,000. Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the fourth quarter worth $58,000. Finally, Principal Securities Inc. raised its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 483 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded up $1.10 during midday trading on Friday, reaching $55.40. The company's stock had a trading volume of 1,439,423 shares, compared to its average volume of 1,035,462. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00. The company has a market capitalization of $5.84 billion, a P/E ratio of 43.97 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business's fifty day simple moving average is $60.34 and its 200-day simple moving average is $52.16.

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

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The stock was 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. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,827 shares of company stock worth $2,688,486 over the last three months. 20.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CORT. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler raised their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Corcept Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $99.75.

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.