Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,965 shares of the biotechnology company’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank’s holdings in Corcept Therapeutics were worth $9,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CORT. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics in the 4th quarter valued at $27,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the 4th quarter valued at $54,000. Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the 4th quarter valued at $58,000. Principal Securities Inc. lifted its holdings in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Corcept Therapeutics by 311.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CORT. Piper Sandler raised their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright restated a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Stock Up 1.9 %

Shares of NASDAQ:CORT opened at $58.66 on Friday. The business has a 50-day moving average price of $61.49 and a 200 day moving average price of $53.68. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 46.56 and a beta of 0.61. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00.

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

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 18,303 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,627 shares of company stock valued at $2,557,674. 20.50% of the stock is currently owned by insiders.

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.