Goldman Sachs Group Inc. Has $17.30 Million Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Goldman Sachs Group Inc. raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 532,760 shares of the biotechnology company’s stock after buying an additional 124,185 shares during the period. Goldman Sachs Group Inc. owned 0.51% of Corcept Therapeutics worth $17,304,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cim LLC acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $508,000. Intrinsic Edge Capital Management LLC bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at $15,164,000. Quantedge Capital Pte Ltd bought a new stake in Corcept Therapeutics during the fourth quarter worth $8,066,000. Campbell & CO Investment Adviser LLC lifted its stake in Corcept Therapeutics by 224.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 32,578 shares of the biotechnology company’s stock valued at $1,058,000 after acquiring an additional 22,548 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Corcept Therapeutics by 50.7% in the 4th quarter. Allianz Asset Management GmbH now owns 48,818 shares of the biotechnology company’s stock valued at $1,586,000 after acquiring an additional 16,422 shares during the period. Institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

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

Corcept Therapeutics Price Performance

CORT opened at $32.06 on Friday. The business has a fifty day simple moving average of $28.18 and a 200 day simple moving average of $26.10. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $35.22. The company has a market capitalization of $3.34 billion, a PE ratio of 30.25 and a beta of 0.46.

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

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, April 1st. The stock was sold at an average price of $25.30, for a total value of $55,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.18, for a total transaction of $150,900.00. Following the sale, the insider now owns 7,314 shares in the company, valued at approximately $220,736.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $25.30, for a total transaction of $55,660.00. The disclosure for this sale can be found here. Insiders have sold 94,400 shares of company stock valued at $2,631,317 over the last 90 days. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Company 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.