UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 22,361 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 224,713 shares of the biotechnology company's stock after acquiring an additional 22,361 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.21% of Corcept Therapeutics worth $11,323,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CORT. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter worth $27,000. Canada Pension Plan Investment Board bought a new position in Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Principal Securities Inc. raised its position in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after purchasing an additional 483 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CORT. 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. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler boosted their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research note on Tuesday, May 6th. Finally, HC Wainwright decreased their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Insider Transactions at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 1,974 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.83, for a total value of $120,078.42. Following the transaction, the chief executive officer now owns 3,017,437 shares of the company's stock, valued at $183,550,692.71. This represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $79.08, for a total value of $1,581,600.00. Following the sale, the insider now directly owns 17,705 shares of the company's stock, valued at approximately $1,400,111.40. This trade represents a 53.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,125 shares of company stock valued at $28,905,496 in the last quarter. Insiders own 20.80% of the company's stock.

Corcept Therapeutics Price Performance

Shares of CORT stock traded up $0.47 on Wednesday, reaching $69.98. The company's stock had a trading volume of 1,141,760 shares, compared to its average volume of 1,146,915. Corcept Therapeutics Incorporated has a 12-month low of $28.04 and a 12-month high of $117.33. The stock's 50 day simple moving average is $73.38 and its 200-day simple moving average is $63.62. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7.42 billion, a P/E ratio of 55.54 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company 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 24.54% and a net margin of 22.35%. Corcept Therapeutics's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

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.