Wakefield Asset Management LLLP acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,707 shares of the biotechnology company's stock, valued at approximately $993,000.
Several other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $27,000. Capital Performance Advisors LLP purchased a new position in shares of Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth approximately $54,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth approximately $58,000. Finally, Principal Securities Inc. increased its stake in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after buying an additional 483 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on CORT shares. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday. HC Wainwright reissued a "buy" rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.75.
Check Out Our Latest Research Report on Corcept Therapeutics
Insiders Place Their Bets
In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the sale, the insider now 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. In the last 90 days, insiders sold 26,600 shares of company stock worth $1,399,576. Insiders own 20.50% of the company's stock.
Corcept Therapeutics Stock Performance
CORT stock traded down $3.03 during midday trading on Tuesday, reaching $56.04. The company had a trading volume of 1,395,181 shares, compared to its average volume of 989,515. The firm has a market capitalization of $5.91 billion, a PE ratio of 44.73 and a beta of 0.58. 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 quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $60.12 and a 200 day moving average price of $51.82.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $200.12 million. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.
About Corcept Therapeutics
(
Free Report)
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.
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