Teza Capital Management LLC Invests $212,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Teza Capital Management LLC bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,210 shares of the biotechnology company's stock, valued at approximately $212,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after purchasing an additional 109,294 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after acquiring an additional 15,908 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Corcept Therapeutics by 4.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock valued at $82,889,000 after purchasing an additional 64,321 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in 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 valued at $69,381,000 after purchasing an additional 153,100 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Corcept Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock valued at $52,988,000 after purchasing an additional 25,073 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Sean Maduck sold 100,000 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David L. Mahoney sold 27,352 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $74.23, for a total transaction of $2,030,338.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 296,352 shares of company stock valued at $24,908,205. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded up $2.60 during mid-day trading on Friday, hitting $78.69. 974,618 shares of the stock were exchanged, compared to its average volume of 1,130,348. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $8.34 billion, a P/E ratio of 62.45 and a beta of 0.22. The stock's fifty day simple moving average is $70.59 and its two-hundred day simple moving average is $62.63. Corcept Therapeutics Incorporated has a twelve month low of $28.04 and a twelve month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. The business had revenue of $157.21 million during 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%. Corcept Therapeutics's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. As a group, analysts forecast 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.