Tealwood Asset Management Inc. Buys New Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Tealwood Asset Management Inc. purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,818 shares of the biotechnology company's stock, valued at approximately $2,264,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CORT. Empowered Funds LLC lifted its position in shares of Corcept Therapeutics by 6.5% in the fourth quarter. Empowered Funds LLC now owns 41,048 shares of the biotechnology company's stock worth $2,068,000 after buying an additional 2,507 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $58,000. Certuity LLC bought a new stake in Corcept Therapeutics in the fourth quarter worth $204,000. Van ECK Associates Corp bought a new stake in Corcept Therapeutics in the fourth quarter worth $4,483,000. Finally, New York State Teachers Retirement System increased its holdings in shares of Corcept Therapeutics by 3.0% in the 4th quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company's stock worth $6,462,000 after buying an additional 3,789 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of CORT stock traded up $1.70 during trading hours on Tuesday, hitting $72.27. 975,998 shares of the company's stock were exchanged, compared to its average volume of 1,146,818. Corcept Therapeutics Incorporated has a fifty-two week low of $28.04 and a fifty-two week high of $117.33. The firm has a market cap of $7.66 billion, a P/E ratio of 57.36 and a beta of 0.19. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $71.63 and a two-hundred day moving average of $64.09.

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 (EPS) for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. During the same period last year, the firm posted $0.25 earnings per share. The company's revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

CORT has been the topic of several analyst reports. HC Wainwright reduced 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. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday, May 6th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Finally, Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares in the company, valued at approximately $545,765.22. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 1,974 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $60.83, for a total value of $120,078.42. Following the completion of the transaction, the chief executive officer now directly owns 3,017,437 shares in the company, valued at approximately $183,550,692.71. This trade represents a 0.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 340,125 shares of company stock valued at $28,905,496. 20.80% of the stock is owned by 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.