Algert Global LLC Sells 787 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Algert Global LLC reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,328 shares of the biotechnology company’s stock after selling 787 shares during the quarter. Algert Global LLC’s holdings in Corcept Therapeutics were worth $1,982,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CORT. Synergy Asset Management LLC raised 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 valued at $22,369,000 after purchasing an additional 262,503 shares during the period. Van ECK Associates Corp acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $4,483,000. Burney Co. boosted its position in Corcept Therapeutics by 9.1% during the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after purchasing an additional 39,657 shares during the period. HighTower Advisors LLC lifted its stake in shares of Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company’s stock worth $4,720,000 after buying an additional 22,011 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Corcept Therapeutics by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after buying an additional 76,573 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 7,060 shares of Corcept Therapeutics stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the completion of the sale, the insider now owns 5,487 shares in the company, valued at $407,738.97. The trade was a 56.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $72.90, for a total transaction of $2,916,000.00. Following the completion of the sale, the chief executive officer now owns 2,941,985 shares of the company’s stock, valued at $214,470,706.50. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,738 shares of company stock worth $20,476,238. Insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $71.39 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $25.35 and a twelve month high of $117.33. 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 stock’s 50-day simple moving average is $66.58 and its 200 day simple moving average is $60.64. The firm has a market capitalization of $7.57 billion, a PE ratio of 56.66 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Corcept Therapeutics’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CORT. StockNews.com upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Piper Sandler lifted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $138.25.

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.