Occudo Quantitative Strategies LP Acquires New Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Occudo Quantitative Strategies LP bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,600 shares of the biotechnology company's stock, valued at approximately $282,000.

A number of other large investors have also recently added to or reduced their stakes in CORT. Synergy Asset Management LLC boosted its holdings in Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after purchasing an additional 262,503 shares during the last quarter. Van ECK Associates Corp bought a new stake in Corcept Therapeutics during the 4th quarter worth about $4,483,000. HighTower Advisors LLC boosted its stake in shares of Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock worth $4,720,000 after buying an additional 22,011 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $807,000. Finally, New York State Teachers Retirement System increased its position in shares of Corcept Therapeutics by 3.0% in the fourth quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company's stock valued at $6,462,000 after acquiring an additional 3,789 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the sale, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 owns 85,622 shares in the company, valued at $8,608,435.88. This represents a 53.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 296,352 shares of company stock worth $24,908,205 over the last quarter. Company insiders own 20.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CORT. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler raised their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company 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 report on Tuesday, May 6th. HC Wainwright cut 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 note on Tuesday, May 6th. Finally, Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

Corcept Therapeutics Price Performance

NASDAQ CORT traded down $0.26 during trading on Thursday, hitting $75.55. 180,565 shares of the company's stock were exchanged, compared to its average volume of 1,121,771. The stock's 50 day moving average price is $69.78 and its two-hundred day moving average price is $62.20. Corcept Therapeutics Incorporated has a fifty-two week low of $27.30 and a fifty-two week high of $117.33. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.01 billion, a PE ratio of 60.13 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the previous year, the company posted $0.25 EPS. Corcept Therapeutics's quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.