Capstone Investment Advisors LLC Decreases Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Capstone Investment Advisors LLC decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 91.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,862 shares of the biotechnology company's stock after selling 94,964 shares during the period. Capstone Investment Advisors LLC's holdings in Corcept Therapeutics were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board bought a new stake in Corcept Therapeutics during the 4th quarter valued at $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth $42,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics in the fourth quarter worth $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $58,000. 93.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CORT. HC Wainwright cut their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. StockNews.com upgraded shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Truist Financial increased their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $142.00.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $70.91 on Wednesday. Corcept Therapeutics Incorporated has a one year low of $23.61 and a one year high of $117.33. The company's fifty day moving average price is $66.14 and its 200-day moving average price is $60.41. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 56.28 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.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Corcept Therapeutics's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 18,303 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the transaction, the insider now owns 85,622 shares in the company, valued at $5,196,399.18. This represents a 17.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 229,678 shares of company stock worth $19,951,609. Company insiders own 20.50% of the company's stock.

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.

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