Mutual of America Capital Management LLC Grows Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Mutual of America Capital Management LLC boosted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,972 shares of the biotechnology company's stock after acquiring an additional 36,255 shares during the quarter. Mutual of America Capital Management LLC owned 0.14% of Corcept Therapeutics worth $4,709,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. FinTrust Capital Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $27,000. Lazard Asset Management LLC purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $28,000. FNY Investment Advisers LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at approximately $39,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $45,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of recent analyst reports. StockNews.com upgraded Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 24th. Truist Financial lifted their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Finally, HC Wainwright lowered their price target on Corcept Therapeutics from $34.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $37.30.

Corcept Therapeutics Stock Up 1.0 %

NASDAQ CORT traded up $0.24 during trading hours on Tuesday, hitting $23.39. 714,294 shares of the company were exchanged, compared to its average volume of 1,465,603. The company has a 50 day moving average of $23.91 and a two-hundred day moving average of $25.54. Corcept Therapeutics Incorporated has a 52-week low of $20.87 and a 52-week high of $34.28. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 24.62 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. Corcept Therapeutics's revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 27,068 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now directly owns 74,455 shares of the company's stock, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Sean Maduck sold 27,068 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now directly owns 74,455 shares of the company's stock, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,783 shares of company stock valued at $2,118,996. 18.60% of the stock is currently owned by corporate 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.