Cache Advisors LLC Buys Shares of 7,500 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cache Advisors LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,500 shares of the biotechnology company's stock, valued at approximately $378,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Black Diamond Financial LLC boosted its holdings in Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after purchasing an additional 200 shares during the period. Quadrant Capital Group LLC boosted its holdings in Corcept Therapeutics by 9.5% in 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 during the period. Summit Investment Advisors Inc. boosted its holdings in Corcept Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock valued at $426,000 after purchasing an additional 268 shares during the period. Arizona State Retirement System boosted its holdings in Corcept Therapeutics by 1.1% in the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock valued at $1,374,000 after purchasing an additional 289 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in Corcept Therapeutics by 0.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company's stock valued at $2,395,000 after purchasing an additional 368 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CORT shares. Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th. HC Wainwright lowered their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Finally, Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Corcept Therapeutics Stock Performance

Shares of CORT stock traded up $0.08 during trading hours on Thursday, reaching $77.73. 295,458 shares of the company's stock were exchanged, compared to its average volume of 1,364,706. The company has a market cap of $8.24 billion, a P/E ratio of 61.69 and a beta of 0.22. The company's 50 day moving average is $71.77 and its two-hundred day moving average is $63.02. Corcept Therapeutics Incorporated has a 1 year low of $28.04 and a 1 year high of $117.33. 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 analysts' consensus estimates 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 return on equity of 24.54% and a net margin of 22.35%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the sale, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. This represents a 53.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 7,060 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.31, for a total value of $524,628.60. Following the completion of the sale, the insider now owns 5,487 shares in the company, valued at approximately $407,738.97. This represents a 56.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 296,352 shares of company stock worth $24,908,205 in the last quarter. Company insiders own 20.50% of the company's stock.

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.