Corient Private Wealth LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Corient Private Wealth LLC bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,061 shares of the biotechnology company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also bought and sold shares of CORT. Natixis Advisors LLC raised its position in Corcept Therapeutics by 14.1% during the 4th quarter. Natixis Advisors LLC now owns 32,123 shares of the biotechnology company’s stock valued at $1,619,000 after purchasing an additional 3,979 shares during the last quarter. Balboa Wealth Partners bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $201,000. Swiss National Bank raised its holdings in shares of Corcept Therapeutics by 0.9% during the fourth quarter. Swiss National Bank now owns 184,965 shares of the biotechnology company’s stock valued at $9,320,000 after acquiring an additional 1,700 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Corcept Therapeutics in the fourth quarter valued at $293,000. Finally, HighTower Advisors LLC increased its position in Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company’s stock valued at $4,720,000 after purchasing an additional 22,011 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Trading Down 19.5 %

Shares of NASDAQ CORT opened at $91.93 on Wednesday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a 50-day moving average of $63.69 and a 200 day moving average of $55.67. The stock has a market cap of $9.70 billion, a P/E ratio of 72.96 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last released its 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). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CORT. Truist Financial raised their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler increased their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average target price of $130.00.

Insider Buying and Selling at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the sale, the chief executive officer now directly owns 3,019,411 shares of the company’s stock, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated 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 transaction, the insider now directly owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,022 shares of company stock worth $2,703,257. 20.50% of the stock is owned by 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.