Los Angeles Capital Management LLC Cuts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Los Angeles Capital Management LLC cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 48,819 shares of the biotechnology company’s stock after selling 1,400 shares during the period. Los Angeles Capital Management LLC’s holdings in Corcept Therapeutics were worth $1,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in Corcept Therapeutics in the 4th quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $36,000. Planned Solutions Inc. bought a new position in Corcept Therapeutics during the fourth quarter valued at approximately $45,000. Headlands Technologies LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth approximately $47,000. Finally, Quadrant Capital Group LLC grew its position in Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 448 shares during the period. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a research report on Monday, June 17th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Corcept Therapeutics in a research report on Wednesday, May 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $44.30.

Insider Activity at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $30.39, for a total transaction of $334,290.00. Following the transaction, the insider now owns 20,203 shares in the company, valued at approximately $613,969.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $30.39, for a total transaction of $334,290.00. Following the transaction, the insider now owns 20,203 shares in the company, valued at approximately $613,969.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction on Monday, May 13th. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now owns 85,222 shares in the company, valued at approximately $2,386,216. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,353 shares of company stock worth $3,280,402. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $30.04 on Monday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $35.22. The firm has a fifty day moving average price of $27.53 and a 200-day moving average price of $25.97. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 28.34 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The firm had revenue of $146.80 million during the quarter, compared to the consensus estimate of $141.19 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. Equities research analysts expect that Corcept Therapeutics Incorporated will post 0.95 EPS for the current year.

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.