Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Position Raised by Cresset Asset Management LLC

Cresset Asset Management LLC grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,975 shares of the biotechnology company's stock after acquiring an additional 18,865 shares during the quarter. Cresset Asset Management LLC owned 0.10% of Corcept Therapeutics worth $5,038,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings 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 raised its position in shares of Corcept Therapeutics by 0.4% during the fourth quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock worth $192,975,000 after acquiring an additional 15,908 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Corcept Therapeutics by 4.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after acquiring an additional 64,321 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in 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 acquiring an additional 25,073 shares during the last quarter. Finally, Northern Trust Corp increased its position in Corcept Therapeutics by 10.2% during the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company's stock valued at $51,172,000 after purchasing an additional 94,128 shares during the period. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Trading Up 2.7%

Shares of NASDAQ CORT traded up $1.91 during midday trading on Monday, reaching $72.14. 1,163,811 shares of the stock were exchanged, compared to its average volume of 1,123,588. The stock has a market capitalization of $7.65 billion, a P/E ratio of 57.25 and a beta of 0.22. Corcept Therapeutics Incorporated has a twelve month low of $26.87 and a twelve month high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a 50 day simple moving average of $67.20 and a 200 day simple moving average of $61.14.

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, hitting the consensus estimate of $0.17. The business had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 18,303 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 85,622 shares in the company, valued at $5,196,399.18. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the sale, the insider now owns 9,009 shares in the company, valued at $545,765.22. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,538 shares of company stock valued at $20,326,462. 20.80% 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.