Range Financial Group LLC Buys New Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Range Financial Group LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,452 shares of the biotechnology company's stock, valued at approximately $1,081,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter worth $25,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics in the third quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock valued at $115,000 after purchasing an additional 1,147 shares in the last quarter. KBC Group NV boosted its holdings in Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company's stock valued at $131,000 after purchasing an additional 496 shares in the last quarter. Finally, Quest Partners LLC increased its position in Corcept Therapeutics by 23.2% during the 2nd quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company's stock worth $171,000 after purchasing an additional 992 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. This trade represents a 36.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,811 shares of company stock worth $1,840,080. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded down $0.41 on Tuesday, hitting $51.25. The company's stock had a trading volume of 625,311 shares, compared to its average volume of 775,828. The stock has a 50 day moving average of $54.69 and a 200-day moving average of $43.77. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 40.67 and a beta of 0.56. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $62.22. 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 posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the prior year, the company earned $0.28 EPS. Corcept Therapeutics's revenue was up 47.7% on a year-over-year basis. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial boosted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler increased their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of "Buy" and a consensus price target of $65.25.

Corcept Therapeutics 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.