20,481 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Bought by Illumine Investment Management LLC

Illumine Investment Management LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 20,481 shares of the biotechnology company’s stock, valued at approximately $1,032,000.

Several other institutional investors and hedge funds have also bought and sold shares of CORT. M&G PLC bought a new position in shares of Corcept Therapeutics in the third quarter valued at $11,173,000. Synergy Asset Management LLC lifted its stake in shares of Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after buying an additional 262,503 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at $4,483,000. Empowered Funds LLC bought a new position in shares of Corcept Therapeutics in the third quarter valued at $1,784,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after buying an additional 13,787 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $59.85 on Friday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00. The firm has a 50-day moving average of $59.60 and a 200-day moving average of $51.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market cap of $6.27 billion, a P/E ratio of 47.50 and a beta of 0.58.

Corcept Therapeutics (NASDAQ:CORT) last posted 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). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $99.75.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,600 shares of company stock worth $1,399,576. Insiders own 20.50% of the company’s stock.

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.