Susquehanna Fundamental Investments LLC Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Susquehanna Fundamental Investments LLC bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,097 shares of the biotechnology company's stock, valued at approximately $1,668,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CORT. Vanguard Group Inc. lifted its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after purchasing an additional 109,294 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after acquiring an additional 15,908 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Corcept Therapeutics by 4.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after acquiring an additional 64,321 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Corcept Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock worth $52,988,000 after purchasing an additional 25,073 shares during the last quarter. Finally, Norges Bank acquired a new position in Corcept Therapeutics during the fourth quarter valued at $42,055,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CORT. Truist Financial boosted their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler increased their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Finally, HC Wainwright lifted their price objective 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and an average price target of $143.25.

Corcept Therapeutics Price Performance

CORT traded up $1.29 during midday trading on Friday, hitting $72.77. 1,231,617 shares of the company traded hands, compared to its average volume of 1,116,239. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 57.75 and a beta of 0.22. The business has a 50 day simple moving average of $65.70 and a two-hundred day simple moving average of $60.08. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52-week low of $23.02 and a 52-week high of $117.33.

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

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 18,303 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock valued at $15,117,614 in the last three months. 20.50% of the stock is currently 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.