Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 54.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,500 shares of the biotechnology company's stock after selling 52,900 shares during the period. OMERS ADMINISTRATION Corp's holdings in Corcept Therapeutics were worth $2,242,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Burney Co. boosted its holdings in Corcept Therapeutics by 9.1% during the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock valued at $23,876,000 after acquiring an additional 39,657 shares during the period. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $54,000. Ballentine Partners LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at $200,000. Nisa Investment Advisors LLC grew its holdings in shares of Corcept Therapeutics by 8.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company's stock worth $537,000 after purchasing an additional 814 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in Corcept Therapeutics in the 4th quarter worth about $807,000. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Up 2.3%

NASDAQ:CORT traded up $1.72 during trading hours on Friday, reaching $75.08. The company's stock had a trading volume of 1,129,303 shares, compared to its average volume of 1,126,222. The stock has a 50 day moving average price of $68.56 and a two-hundred day moving average price of $61.73. 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 company has a market capitalization of $7.96 billion, a P/E ratio of 59.59 and a beta of 0.22. Corcept Therapeutics Incorporated has a 12 month low of $27.30 and a 12 month high of $117.33.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CORT shares. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Canaccord Genuity Group increased their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright reduced their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Piper Sandler upped their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Corcept Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $138.25.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction on Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares of the company's stock, valued at approximately $545,765.22. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the stock in a transaction on 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. This represents a 53.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,738 shares of company stock worth $20,484,994. 20.80% of the stock is owned by corporate insiders.

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.