Cerity Partners LLC Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cerity Partners LLC boosted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 614,794 shares of the biotechnology company's stock after acquiring an additional 6,848 shares during the quarter. Cerity Partners LLC owned 0.58% of Corcept Therapeutics worth $70,222,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Gen Wealth Partners Inc acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth approximately $67,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Corcept Therapeutics in the fourth quarter worth approximately $69,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Corcept Therapeutics by 102.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 313 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 27,352 shares of Corcept Therapeutics stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 26,554 shares of Corcept Therapeutics stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $72.23, for a total value of $1,917,995.42. Following the completion of the sale, the insider owned 85,622 shares in the company, valued at $6,184,477.06. This represents a 23.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 223,033 shares of company stock valued at $16,860,067 in the last three months. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Trading Down 0.2%

NASDAQ CORT traded down $0.13 on Friday, reaching $71.88. 679,544 shares of the company were exchanged, compared to its average volume of 1,187,815. The business's fifty day moving average price is $72.67 and its 200 day moving average price is $66.41. The stock has a market capitalization of $7.62 billion, a P/E ratio of 61.97 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $31.18 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. The company had revenue of $157.21 million for 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%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CORT. Canaccord Genuity Group lifted 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. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler lifted 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 lowered 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. Finally, Wall Street Zen lowered 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

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.