Brevan Howard Capital Management LP Invests $424,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Brevan Howard Capital Management LP acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,423 shares of the biotechnology company's stock, valued at approximately $424,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after purchasing an additional 109,294 shares during the period. Parallel Advisors LLC increased its stake in Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock worth $192,975,000 after purchasing an additional 15,908 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Corcept Therapeutics by 4.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after buying an additional 64,321 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Corcept Therapeutics by 2.4% during 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 buying an additional 25,073 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Corcept Therapeutics by 10.2% in the fourth quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company's stock worth $51,172,000 after buying an additional 94,128 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Down 2.1%

CORT traded down $1.55 on Tuesday, reaching $70.59. 1,047,924 shares of the company traded hands, compared to its average volume of 1,120,703. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 56.02 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock's 50 day moving average price is $67.52 and its 200-day moving average price is $61.21. Corcept Therapeutics Incorporated has a 52-week low of $26.87 and a 52-week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $157.21 million for the quarter, compared to analysts' expectations of $177.93 million. During the same period in the previous year, the company posted $0.25 EPS. Corcept Therapeutics's revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 7,060 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the completion of the sale, the insider now directly owns 5,487 shares in the company, valued at $407,738.97. The trade was a 56.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the sale, the insider now owns 85,622 shares of the company's stock, valued at $8,608,435.88. This represents a 53.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 234,538 shares of company stock valued at $20,326,462 in the last three months. Corporate insiders own 20.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CORT shares. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. StockNews.com raised shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th. Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th. HC Wainwright lowered their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Piper Sandler upped their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $138.25.

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.