QRG Capital Management Inc. Acquires 6,163 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

QRG Capital Management Inc. increased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,365 shares of the biotechnology company's stock after acquiring an additional 6,163 shares during the quarter. QRG Capital Management Inc. owned about 0.09% of Corcept Therapeutics worth $4,856,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. M&G PLC bought a new position in shares of Corcept Therapeutics during the third quarter worth $11,173,000. Synergy Asset Management LLC lifted its holdings in Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after acquiring an additional 262,503 shares in the last quarter. Van ECK Associates Corp acquired a new position in Corcept Therapeutics in the fourth quarter valued at about $4,483,000. Empowered Funds LLC bought a new stake in shares of Corcept Therapeutics in the third quarter worth about $1,784,000. Finally, Victory Capital Management Inc. raised its position in shares of Corcept Therapeutics by 49.2% during the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company's stock worth $1,936,000 after purchasing an additional 13,787 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock worth $1,399,576 in the last ninety days. Insiders own 20.50% of the company's stock.

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Analysts Set New Price Targets

CORT has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Piper Sandler upped their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $99.75.

Corcept Therapeutics Stock Down 4.1 %

CORT traded down $2.40 on Tuesday, hitting $56.67. 1,320,317 shares of the company were exchanged, compared to its average volume of 988,323. The stock's fifty day moving average is $60.12 and its 200-day moving average is $51.82. 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. The company has a market cap of $5.98 billion, a PE ratio of 45.03 and a beta of 0.58.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (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 company had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal 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.