Legato Capital Management LLC Sells 4,341 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Legato Capital Management LLC cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 13.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,975 shares of the biotechnology company's stock after selling 4,341 shares during the period. Legato Capital Management LLC's holdings in Corcept Therapeutics were worth $3,195,000 as of its most recent SEC filing.

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

Corcept Therapeutics Trading Up 1.0%

Shares of Corcept Therapeutics stock traded up $0.70 during mid-day trading on Friday, reaching $68.29. 395,581 shares of the stock were exchanged, compared to its average volume of 1,418,507. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 58.87 and a beta of 0.15. The firm has a 50-day simple moving average of $72.38 and a 200 day simple moving average of $67.73. Corcept Therapeutics Incorporated has a fifty-two week low of $32.33 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted 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 analysts' expectations of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of analyst reports. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, May 6th. HC Wainwright dropped their target price on shares of 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 shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler increased their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Finally, Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 473 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $73.44, for a total value of $34,737.12. Following the completion of the sale, the insider owned 17,705 shares in the company, valued at approximately $1,300,255.20. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Guyer sold 500 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $73.44, for a total transaction of $36,720.00. Following the completion of the sale, the insider owned 5,487 shares of the company's stock, valued at $402,965.28. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 239,592 shares of company stock worth $18,071,616. Corporate insiders own 20.80% 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.