6,233 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Purchased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,233 shares of the biotechnology company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC boosted its stake in shares of Corcept Therapeutics by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock valued at $1,529,000 after purchasing an additional 368 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Corcept Therapeutics by 0.5% in the 3rd quarter. AQR Capital Management LLC now owns 79,945 shares of the biotechnology company’s stock valued at $2,178,000 after purchasing an additional 416 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Corcept Therapeutics by 3.0% in the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 427 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 500 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Corcept Therapeutics by 0.3% in the 2nd quarter. Captrust Financial Advisors now owns 228,167 shares of the biotechnology company’s stock valued at $5,077,000 after purchasing an additional 621 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Truist Financial raised their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $37.30.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $22.95 on Friday. The firm’s 50 day simple moving average is $23.93 and its 200 day simple moving average is $25.48. Corcept Therapeutics Incorporated has a one year low of $20.87 and a one year high of $34.28. The company has a market cap of $2.38 billion, a PE ratio of 24.16 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million during the quarter, compared to analyst estimates of $129.27 million. During the same quarter last year, the business earned $0.14 EPS. The company’s revenue was up 31.4% compared to the same quarter last year. Equities research analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the transaction, the insider now owns 7,314 shares in the company, valued at approximately $190,164. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Douglas Lyon sold 5,443 shares of Corcept Therapeutics stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the sale, the insider now owns 7,314 shares of the company’s stock, valued at approximately $190,164. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,783 shares of company stock worth $2,118,996. 19.80% of the stock is currently 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.