Connor Clark & Lunn Investment Management Ltd. Sells 62,768 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 796,795 shares of the biotechnology company’s stock after selling 62,768 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.76% of Corcept Therapeutics worth $40,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CORT. Kestra Investment Management LLC bought a new position in Corcept Therapeutics in the 4th quarter valued at about $27,000. USA Financial Formulas bought a new position in Corcept Therapeutics in the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics in the 4th quarter valued at about $58,000. Principal Securities Inc. increased 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 buying an additional 483 shares during the period. Finally, Smartleaf Asset Management LLC increased 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 buying an additional 1,795 shares during the period. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $55.00 on Thursday. The company has a fifty day moving average of $60.55 and a 200-day moving average of $52.71. The firm has a market capitalization of $5.80 billion, a P/E ratio of 43.65 and a beta of 0.61. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $75.00.

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

Analysts Set New Price Targets

Several equities analysts have commented on CORT shares. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Piper Sandler raised their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.75.

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders sold 45,627 shares of company stock worth $2,557,674 in the last quarter. 20.50% of the stock is owned by corporate insiders.

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.