Crestline Management LP Purchases 4,615 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Crestline Management LP lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 50.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,774 shares of the biotechnology company’s stock after buying an additional 4,615 shares during the quarter. Crestline Management LP’s holdings in Corcept Therapeutics were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CORT. Norges Bank bought a new position in Corcept Therapeutics during the 4th quarter worth $42,055,000. Braun Stacey Associates Inc. bought a new position in Corcept Therapeutics during the fourth quarter worth about $14,935,000. Synergy Asset Management LLC increased its position in Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after acquiring an additional 262,503 shares during the period. Raymond James Financial Inc. acquired a new stake in Corcept Therapeutics in the 4th quarter worth about $12,084,000. Finally, Vanguard Group Inc. boosted its holdings in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock valued at $509,726,000 after purchasing an additional 109,294 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares of the company’s stock, valued at $8,608,435.88. This represents a 53.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William Guyer sold 7,060 shares of Corcept Therapeutics stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the sale, the insider now directly owns 5,487 shares in the company, valued at $407,738.97. The trade was a 56.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,738 shares of company stock worth $20,476,238. Corporate insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Down 1.6 %

NASDAQ CORT opened at $70.23 on Friday. The business has a fifty day moving average price of $66.86 and a two-hundred day moving average price of $60.78. The stock has a market capitalization of $7.45 billion, a PE ratio of 55.74 and a beta of 0.22. Corcept Therapeutics Incorporated has a fifty-two week low of $26.53 and a fifty-two week 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.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $157.21 million during the quarter, compared to analysts’ expectations 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 was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal 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.