Natixis Advisors LLC Acquires 3,979 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Natixis Advisors LLC raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,123 shares of the biotechnology company’s stock after purchasing an additional 3,979 shares during the quarter. Natixis Advisors LLC’s holdings in Corcept Therapeutics were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its stake in Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $14,935,000. FMR LLC boosted its stake in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares in the last quarter. Synergy Asset Management LLC grew its holdings in shares of Corcept Therapeutics by 131.3% in the 4th 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. Finally, Raymond James Financial Inc. acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $12,084,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Up 1.4 %

NASDAQ:CORT opened at $59.47 on Tuesday. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 47.20 and a beta of 0.61. 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 stock’s fifty day moving average price is $61.66 and its two-hundred day moving average price is $54.13. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CORT shares. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Piper Sandler boosted their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.75.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 18,303 shares of the business’s stock in a transaction dated 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 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. Over the last ninety days, insiders have sold 45,627 shares of company stock valued at $2,557,674. 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.