Federated Hermes Inc. Boosts Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Federated Hermes Inc. raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 107.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,870 shares of the biotechnology company's stock after purchasing an additional 7,172 shares during the quarter. Federated Hermes Inc.'s holdings in Corcept Therapeutics were worth $699,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Corcept Therapeutics by 9.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock valued at $150,000 after purchasing an additional 257 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Corcept Therapeutics by 11.7% in the fourth quarter. Russell Investments Group Ltd. now owns 202,504 shares of the biotechnology company's stock worth $10,204,000 after buying an additional 21,281 shares during the period. Wells Fargo & Company MN lifted its position in shares of Corcept Therapeutics by 104.5% during the 4th quarter. Wells Fargo & Company MN now owns 90,137 shares of the biotechnology company's stock valued at $4,542,000 after buying an additional 46,067 shares in the last quarter. Integrated Quantitative Investments LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $1,088,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in Corcept Therapeutics in the 4th quarter worth approximately $550,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of CORT stock traded up $1.78 during trading hours on Tuesday, hitting $64.68. The stock had a trading volume of 1,028,775 shares, compared to its average volume of 1,120,382. 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 $6.82 billion, a price-to-earnings ratio of 51.33 and a beta of 0.15. Corcept Therapeutics Incorporated has a one year low of $22.00 and a one year high of $117.33. The stock's 50-day moving average price is $65.11 and its two-hundred day moving average price is $58.64.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CORT. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Piper Sandler upped their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. HC Wainwright raised their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Truist Financial increased their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $143.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the transaction, the insider now owns 9,009 shares of the company's stock, valued at $545,765.22. This represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 18,303 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the sale, the insider now owns 85,622 shares in the company, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,124 shares of company stock worth $15,117,614 over the last quarter. Insiders own 20.50% of the company's stock.

Corcept Therapeutics 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.