Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Position Raised by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 30.7% during the fourth quarter, Holdings Channel reports. The firm owned 93,677 shares of the biotechnology company’s stock after purchasing an additional 22,011 shares during the quarter. HighTower Advisors LLC’s holdings in Corcept Therapeutics were worth $4,720,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Inceptionr LLC lifted its position in shares of Corcept Therapeutics by 40.2% in the 4th quarter. Inceptionr LLC now owns 10,431 shares of the biotechnology company’s stock valued at $526,000 after acquiring an additional 2,991 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $12,084,000. Arizona State Retirement System lifted its holdings in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after purchasing an additional 289 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $1,597,000. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth $1,844,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Insiders sold 45,627 shares of company stock valued at $2,557,674 over the last quarter. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Up 2.7 %

Shares of NASDAQ CORT opened at $58.00 on Thursday. The business has a 50 day simple moving average of $61.20 and a 200 day simple moving average of $53.48. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $75.00. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 46.03 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Piper Sandler increased their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.75.

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.