Guggenheim Capital LLC Takes $281,000 Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Guggenheim Capital LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,575 shares of the biotechnology company's stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth about $688,000. Mariner LLC grew its position in Corcept Therapeutics by 13.6% during the fourth quarter. Mariner LLC now owns 13,362 shares of the biotechnology company's stock valued at $673,000 after acquiring an additional 1,601 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Corcept Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock worth $426,000 after acquiring an additional 268 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Corcept Therapeutics by 8.9% during the fourth quarter. Bank of Montreal Can now owns 13,678 shares of the biotechnology company's stock worth $689,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Corcept Therapeutics by 107.1% in the 4th quarter. Federated Hermes Inc. now owns 13,870 shares of the biotechnology company's stock valued at $699,000 after purchasing an additional 7,172 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction dated 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 completion of the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at $8,608,435.88. This trade represents a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,124 shares of company stock worth $15,117,614. Insiders own 20.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CORT. HC Wainwright upped their price target on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Truist Financial lifted their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Canaccord Genuity Group raised 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, Piper Sandler upped their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $143.25.

Corcept Therapeutics Stock Up 2.9 %

Corcept Therapeutics stock traded up $2.10 during trading hours on Friday, hitting $73.58. 300,478 shares of the stock traded hands, compared to its average volume of 1,119,557. Corcept Therapeutics Incorporated has a one year low of $23.02 and a one year high of $117.33. The company has a market cap of $7.76 billion, a PE ratio of 58.29 and a beta of 0.15. The firm's 50-day moving average price is $65.47 and its two-hundred day moving average price is $59.81. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analysts' expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current 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.