Proficio Capital Partners LLC Purchases New Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Proficio Capital Partners LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 31,695 shares of the biotechnology company's stock, valued at approximately $1,597,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CORT. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the 4th quarter worth about $27,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $58,000. Principal Securities Inc. lifted its stake in shares of Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after purchasing an additional 483 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Corcept Therapeutics by 311.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company's stock valued at $121,000 after purchasing an additional 1,795 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their price objective 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 reissued a "buy" rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, February 27th. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Canaccord Genuity Group boosted their price objective 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 analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.75.

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Insiders Place Their Bets

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction that occurred on 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 directly owns 3,019,411 shares of the company's stock, valued at $183,912,324.01. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,627 shares of company stock valued at $2,557,674. Corporate insiders own 20.50% of the company's stock.

Corcept Therapeutics Stock Up 1.9 %

Corcept Therapeutics stock traded up $1.07 during midday trading on Friday, reaching $58.66. The stock had a trading volume of 1,943,513 shares, compared to its average volume of 971,942. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00. The company has a market capitalization of $6.19 billion, a P/E ratio of 46.56 and a beta of 0.61. The company has a fifty day moving average price of $61.49 and a two-hundred day moving average price of $53.81. 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 (NASDAQ:CORT - Get Free Report) last issued its earnings results 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 net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. As a group, equities analysts expect 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.