Jacobs Levy Equity Management Inc. Boosts Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,376,881 shares of the biotechnology company's stock after acquiring an additional 153,100 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.31% of Corcept Therapeutics worth $69,381,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Black Diamond Financial LLC increased its position in shares of Corcept Therapeutics by 4.0% during the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock worth $262,000 after buying an additional 200 shares during the period. Quadrant Capital Group LLC increased its position in shares of Corcept Therapeutics by 9.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock worth $150,000 after buying an additional 257 shares during the period. Summit Investment Advisors Inc. increased its position 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 buying an additional 268 shares during the period. Arizona State Retirement System increased its position in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock worth $1,374,000 after buying an additional 289 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in Corcept Therapeutics by 0.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company's stock worth $2,395,000 after purchasing an additional 368 shares during the period. Institutional investors own 93.61% of the company's stock.

Wall Street Analyst Weigh In

CORT has been the subject of a number of research reports. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a report on Tuesday, May 6th. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday. 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 lifted their price objective 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. One investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Corcept Therapeutics Stock Up 0.4%

Shares of NASDAQ CORT traded up $0.25 during mid-day trading on Wednesday, reaching $70.84. 1,299,618 shares of the company's stock traded hands, compared to its average volume of 1,121,538. The stock has a market cap of $7.51 billion, a P/E ratio of 56.22 and a beta of 0.22. The business has a 50-day simple moving average of $67.83 and a 200 day simple moving average of $61.27. Corcept Therapeutics Incorporated has a 1-year low of $27.30 and a 1-year high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released 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. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same period last year, the firm earned $0.25 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $72.06, for a total transaction of $158,532.00. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock valued at $20,484,994 over the last ninety days. Corporate insiders own 20.80% of the company's stock.

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.