Envestnet Asset Management Inc. Sells 5,030 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Envestnet Asset Management Inc. lowered its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,157 shares of the biotechnology company's stock after selling 5,030 shares during the period. Envestnet Asset Management Inc.'s holdings in Corcept Therapeutics were worth $1,469,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Synergy Asset Management LLC raised its holdings in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock valued at $22,369,000 after acquiring an additional 262,503 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at $4,483,000. Burney Co. lifted its position in Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock worth $23,876,000 after purchasing an additional 39,657 shares during the period. HighTower Advisors LLC lifted its position in Corcept Therapeutics by 30.7% in the fourth quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock worth $4,720,000 after purchasing an additional 22,011 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Corcept Therapeutics by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock worth $11,712,000 after buying an additional 76,573 shares in the last quarter. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Up 3.2 %

CORT stock opened at $73.23 on Wednesday. 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 has a market capitalization of $7.73 billion, a price-to-earnings ratio of 58.12 and a beta of 0.15. The business has a fifty day moving average price of $65.11 and a 200 day moving average price of $59.55. Corcept Therapeutics Incorporated has a fifty-two week low of $22.60 and a fifty-two week high of $117.33.

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

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 31st. The shares were 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 in the company, valued at $8,608,435.88. The trade was a 53.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders sold a total of 163,124 shares of company stock valued at $15,117,614 over the last quarter. Corporate insiders own 20.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CORT shares. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Piper Sandler raised their price target 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. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Truist Financial boosted their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Finally, HC Wainwright increased their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $143.25.

About Corcept Therapeutics

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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