Sherbrooke Park Advisers LLC Makes New $283,000 Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Sherbrooke Park Advisers LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,620 shares of the biotechnology company's stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Principal Securities Inc. lifted its position 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 valued at $63,000 after acquiring an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Analyst Upgrades and Downgrades

CORT has been the subject of several recent research reports. Piper Sandler increased their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. HC Wainwright cut their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 18,303 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares in the company, valued at $5,196,399.18. This trade represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Guyer sold 32,262 shares of Corcept Therapeutics stock in a transaction on Friday, May 16th. The shares were sold at an average price of $74.17, for a total value of $2,392,872.54. Following the completion of the transaction, the insider now owns 5,487 shares of the company's stock, valued at approximately $406,970.79. This trade represents a 85.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 296,352 shares of company stock worth $24,908,205 over the last ninety days. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Trading Up 3.4%

CORT stock traded up $2.60 during midday trading on Friday, hitting $78.69. 974,618 shares of the company's stock were exchanged, compared to its average volume of 1,130,348. The business has a 50-day simple moving average of $70.59 and a two-hundred day simple moving average of $62.68. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.34 billion, a PE ratio of 62.45 and a beta of 0.22. Corcept Therapeutics Incorporated has a 1-year low of $28.04 and a 1-year high of $117.33.

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

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.