Rafferty Asset Management LLC Sells 5,606 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Rafferty Asset Management LLC lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,906 shares of the biotechnology company's stock after selling 5,606 shares during the quarter. Rafferty Asset Management LLC's holdings in Corcept Therapeutics were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Corcept Therapeutics in the 4th quarter worth about $27,000. Canada Pension Plan Investment Board bought a new position in Corcept Therapeutics in the 4th quarter worth about $40,000. National Bank of Canada FI bought a new position in Corcept Therapeutics in the 4th quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics in the 4th quarter worth about $58,000. Finally, Principal Securities Inc. boosted its position in shares of Corcept Therapeutics by 63.6% during the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 483 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Up 0.1%

Corcept Therapeutics stock traded up $0.09 during trading hours on Thursday, reaching $77.74. The company had a trading volume of 157,434 shares, compared to its average volume of 1,119,504. 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 $71.77 and a 200 day moving average price of $63.02. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 61.77 and a beta of 0.22. Corcept Therapeutics Incorporated has a 12-month low of $28.04 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 100,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at approximately $8,608,435.88. The trade was a 53.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph K. Belanoff sold 2,924 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 296,352 shares of company stock valued at $24,908,205 in the last ninety days. Company insiders own 20.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler boosted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. HC Wainwright dropped their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $138.25.

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.