ProShare Advisors LLC Has $1.24 Million Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

ProShare Advisors LLC increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 43.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,596 shares of the biotechnology company's stock after purchasing an additional 7,489 shares during the period. ProShare Advisors LLC's holdings in Corcept Therapeutics were worth $1,239,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $42,055,000. Braun Stacey Associates Inc. bought a new stake in Corcept Therapeutics during the 4th quarter worth about $14,935,000. Synergy Asset Management LLC lifted its position in Corcept Therapeutics by 131.3% during the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock valued at $22,369,000 after purchasing an additional 262,503 shares during the period. Raymond James Financial Inc. acquired a new position in Corcept Therapeutics during the 4th quarter valued at about $12,084,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Corcept Therapeutics by 12.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after buying an additional 153,100 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Wall Street Analysts Forecast Growth

CORT has been the topic of several analyst reports. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. HC Wainwright cut 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. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Finally, Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report 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 MarketBeat.com, Corcept Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $138.25.

Corcept Therapeutics Stock Up 1.3%

CORT stock traded up $0.98 during trading hours on Wednesday, reaching $77.79. 188,644 shares of the stock were exchanged, compared to its average volume of 1,128,554. 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 firm's 50-day moving average is $71.39 and its 200-day moving average is $62.91. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 61.72 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at $545,765.22. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares in the company, valued at approximately $8,608,435.88. This trade represents a 53.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 296,352 shares of company stock valued at $24,908,205. 20.50% of the stock is owned by corporate insiders.

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.