Charles Schwab Investment Management Inc. Acquires 25,073 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Charles Schwab Investment Management Inc. increased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,051,560 shares of the biotechnology company’s stock after purchasing an additional 25,073 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.00% of Corcept Therapeutics worth $52,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Black Diamond Financial LLC grew its position in shares of Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after buying an additional 200 shares during the last quarter. Hancock Whitney Corp grew its holdings in shares of Corcept Therapeutics by 1.2% in the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after purchasing an additional 270 shares during the period. Illinois Municipal Retirement Fund grew its holdings 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 valued at $2,395,000 after purchasing an additional 368 shares during the period. Principal Securities Inc. boosted its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares during the period. Finally, KBC Group NV lifted its position in shares of Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $54.85 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 43.53 and a beta of 0.61. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00. The business’s 50 day moving average is $60.64 and its two-hundred day moving average is $52.72.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CORT. Piper Sandler raised their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.75.

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 45,627 shares of company stock valued at $2,557,674 over the last 90 days. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Company 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.