Proficio Capital Partners LLC Acquires Shares of 31,695 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Proficio Capital Partners LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,695 shares of the biotechnology company’s stock, valued at approximately $1,597,000.

A number of other large investors have also recently made changes to their positions in CORT. State Street Corp lifted its holdings in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after buying an additional 19,893 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Corcept Therapeutics by 4.4% during the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after acquiring an additional 99,470 shares during the period. FMR LLC raised its stake in shares of Corcept Therapeutics by 24.6% during the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Corcept Therapeutics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company’s stock valued at $52,988,000 after purchasing an additional 25,073 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other 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 transaction of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CORT has been the subject of a number of research analyst reports. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $99.75.

Corcept Therapeutics Trading Up 2.7 %

NASDAQ CORT opened at $58.00 on Thursday. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $75.00. The company has a 50 day moving average price of $61.20 and a 200 day moving average price of $53.48. 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 firm has a market cap of $6.12 billion, a PE ratio of 46.03 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.