Marcum Wealth LLC Reduces Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Marcum Wealth LLC decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 49.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,711 shares of the biotechnology company's stock after selling 4,668 shares during the period. Marcum Wealth LLC's holdings in Corcept Therapeutics were worth $538,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CORT. Synergy Asset Management LLC raised its stake in shares of Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after acquiring an additional 262,503 shares in the last quarter. Van ECK Associates Corp purchased a new position in Corcept Therapeutics in the 4th quarter worth $4,483,000. HighTower Advisors LLC raised its position in Corcept Therapeutics by 30.7% in the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock worth $4,720,000 after purchasing an additional 22,011 shares during the period. New York State Teachers Retirement System raised its position in Corcept Therapeutics by 3.0% in the 4th quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company's stock worth $6,462,000 after purchasing an additional 3,789 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Corcept Therapeutics by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock worth $13,096,000 after buying an additional 6,832 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Up 0.6%

NASDAQ:CORT traded up $0.45 during mid-day trading on Friday, reaching $78.09. 1,203,879 shares of the company's stock traded hands, compared to its average volume of 1,122,355. Corcept Therapeutics Incorporated has a 12-month low of $28.04 and a 12-month 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. The company has a 50 day moving average price of $72.53 and a 200-day moving average price of $63.33. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 61.98 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $157.21 million for 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 firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, Director David L. Mahoney sold 27,352 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $74.23, for a total transaction of $2,030,338.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Guyer sold 32,262 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $74.17, for a total transaction of $2,392,872.54. Following the sale, the insider now owns 5,487 shares in the company, valued at approximately $406,970.79. The trade was a 85.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,352 shares of company stock valued at $24,908,205. Insiders own 20.50% of the company's stock.

Analysts Set New Price Targets

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

Corcept Therapeutics Company 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.