Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Position Increased by LPL Financial LLC

LPL Financial LLC grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,682 shares of the biotechnology company's stock after buying an additional 19,650 shares during the quarter. LPL Financial LLC owned 0.06% of Corcept Therapeutics worth $3,058,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CORT. Kestra Investment Management LLC purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $27,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $58,000. Principal Securities Inc. boosted its holdings in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 483 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Corcept Therapeutics in the fourth quarter valued at approximately $69,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT traded down $0.90 during midday trading on Thursday, hitting $63.70. The company's stock had a trading volume of 244,257 shares, compared to its average volume of 1,399,421. 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 firm's fifty day moving average price is $65.66 and its 200-day moving average price is $58.08. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $117.33. The firm has a market cap of $6.72 billion, a P/E ratio of 50.49 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. On average, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price target 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. Piper Sandler upped their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. Canaccord Genuity Group increased their target price on 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 upped their price target on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. Finally, StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $143.25.

Insiders Place Their Bets

In other news, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction 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 owns 9,009 shares of the company's stock, valued at approximately $545,765.22. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 100,000 shares of the company's 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 sale, the insider now directly owns 85,622 shares of the company's stock, valued at $8,608,435.88. The trade was a 53.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,124 shares of company stock worth $15,117,614. Insiders own 20.50% 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.