Shelton Capital Management Sells 10,867 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Shelton Capital Management lowered its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,914 shares of the biotechnology company's stock after selling 10,867 shares during the period. Shelton Capital Management owned about 0.12% of Corcept Therapeutics worth $6,496,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $27,000. National Bank of Canada FI bought a new stake in Corcept Therapeutics in the fourth quarter valued at about $42,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth $58,000. Finally, Principal Securities Inc. lifted its holdings in shares of Corcept Therapeutics by 63.6% during 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 in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. HC Wainwright increased their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group raised their price target 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 upped 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. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $143.25.

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Corcept Therapeutics Price Performance

NASDAQ CORT traded up $0.35 during trading on Monday, hitting $68.97. 286,448 shares of the company's stock were exchanged, compared to its average volume of 1,403,917. The stock's 50 day moving average price is $65.72 and its two-hundred day moving average price is $57.79. The company has a market cap of $7.28 billion, a PE ratio of 54.74 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $117.33. 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 posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share 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 company had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 18,303 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the transaction, the insider now owns 85,622 shares of the company's stock, valued at $5,196,399.18. This trade represents a 17.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,924 shares of company stock worth $14,963,130. Company insiders own 20.50% of the company's stock.

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.