Russell Investments Group Ltd. Raises Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Russell Investments Group Ltd. grew its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,504 shares of the biotechnology company's stock after purchasing an additional 21,281 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Corcept Therapeutics worth $10,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Black Diamond Financial LLC raised its stake in 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 acquiring an additional 200 shares during the period. Arizona State Retirement System raised its holdings in Corcept Therapeutics by 1.1% during the 4th 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. Illinois Municipal Retirement Fund boosted its position in shares of 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 buying an additional 368 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Corcept Therapeutics by 5.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,754 shares of the biotechnology company's stock valued at $441,000 after buying an additional 441 shares during the period. Finally, Westover Capital Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 3.0% during the 4th quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company's stock valued at $785,000 after buying an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Canaccord Genuity Group upped their target price 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. Truist Financial boosted their target price 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. StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, HC Wainwright boosted their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $143.25.

Corcept Therapeutics Trading Down 2.7 %

NASDAQ:CORT traded down $1.74 during trading hours on Thursday, hitting $62.86. 398,088 shares of the company were exchanged, compared to its average volume of 1,124,954. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year 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 stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 49.98 and a beta of 0.15. The company has a fifty day simple moving average of $65.66 and a 200 day simple moving average of $58.08.

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

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $70.22, for a total transaction of $154,484.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the insider now owns 9,009 shares in the company, valued at approximately $545,765.22. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,124 shares of company stock valued at $15,117,614 in the last quarter. 20.50% of the stock is owned by 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.