Corient Private Wealth LLC Purchases New Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

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

Several other hedge funds and other institutional investors have also bought and sold shares of CORT. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $27,000. USA Financial Formulas bought a new position in Corcept Therapeutics during the fourth quarter valued at about $54,000. Newbridge Financial Services Group Inc. purchased a new stake in Corcept Therapeutics during the fourth quarter worth about $58,000. Principal Securities Inc. raised its position in Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 483 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Corcept Therapeutics by 311.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders sold a total of 48,022 shares of company stock worth $2,703,257 over the last ninety days. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Price Performance

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

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 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 firm had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.