Oppenheimer & Co. Inc. Grows Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Oppenheimer & Co. Inc. boosted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 39.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,246 shares of the biotechnology company's stock after buying an additional 6,246 shares during the period. Oppenheimer & Co. Inc.'s holdings in Corcept Therapeutics were worth $2,541,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in Corcept Therapeutics by 102.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 313 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at $42,000. Principal Securities Inc. grew its holdings 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 worth $63,000 after purchasing an additional 483 shares during the last quarter. Finally, Gen Wealth Partners Inc bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $67,000. 93.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 35,102 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $94.72, for a total value of $3,324,861.44. Following the completion of the transaction, the chief executive officer now owns 2,982,335 shares in the company, valued at $282,486,771.20. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Guyer sold 7,060 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the sale, the insider now owns 5,487 shares in the company, valued at approximately $407,738.97. The trade was a 56.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,930 shares of company stock valued at $30,363,655. Corporate insiders own 20.80% of the company's stock.

Corcept Therapeutics Trading Down 1.5%

Shares of CORT traded down $1.11 during mid-day trading on Friday, hitting $73.22. The company's stock had a trading volume of 11,981,316 shares, compared to its average volume of 1,178,309. The company's 50-day moving average is $72.27 and its 200-day moving average is $65.15. Corcept Therapeutics Incorporated has a 52-week low of $29.42 and a 52-week high of $117.33. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 63.12 and a beta of 0.19.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The business had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same period in the previous year, the company posted $0.25 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

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.