Corcept Therapeutics Incorporated (NASDAQ:CORT) Stake Lessened by Burney Co.

Burney Co. lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 43.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,397 shares of the biotechnology company's stock after selling 207,424 shares during the quarter. Corcept Therapeutics accounts for 1.1% of Burney Co.'s investment portfolio, making the stock its 15th biggest position. Burney Co. owned 0.25% of Corcept Therapeutics worth $30,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CORT. Avantax Advisory Services Inc. acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth about $293,000. Natixis Advisors LLC lifted its stake in shares of Corcept Therapeutics by 14.1% during the fourth quarter. Natixis Advisors LLC now owns 32,123 shares of the biotechnology company's stock worth $1,619,000 after purchasing an additional 3,979 shares in the last quarter. Corient Private Wealth LLC acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth about $205,000. Xponance Inc. lifted its stake in shares of Corcept Therapeutics by 21.3% during the fourth quarter. Xponance Inc. now owns 7,430 shares of the biotechnology company's stock worth $374,000 after purchasing an additional 1,304 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Corcept Therapeutics by 18.5% during the fourth quarter. Teacher Retirement System of Texas now owns 27,856 shares of the biotechnology company's stock worth $1,404,000 after purchasing an additional 4,356 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 26,554 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $72.23, for a total value of $1,917,995.42. Following the completion of the transaction, the insider directly owned 85,622 shares of the company's stock, valued at $6,184,477.06. This represents a 23.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Mahoney sold 27,352 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $74.23, for a total value of $2,030,338.96. The disclosure for this sale can be found here. In the last three months, insiders sold 239,592 shares of company stock valued at $18,071,616. 20.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on CORT shares. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler boosted their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. HC Wainwright cut 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. Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Corcept Therapeutics Trading Up 1.0%

Corcept Therapeutics stock traded up $0.70 during midday trading on Friday, hitting $68.29. The stock had a trading volume of 395,581 shares, compared to its average volume of 1,418,507. The stock has a market cap of $7.24 billion, a P/E ratio of 58.87 and a beta of 0.15. Corcept Therapeutics Incorporated has a 12 month low of $32.33 and a 12 month high of $117.33. The business has a fifty day moving average price of $72.38 and a 200 day moving average price of $67.73.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm 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 20.40% and a net margin of 19.33%. Corcept Therapeutics's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.