Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 35.4% in the fourth quarter, Holdings Channel reports. The fund owned 16,000 shares of the biotechnology company’s stock after selling 8,774 shares during the period. Oppenheimer & Co. Inc.’s holdings in Corcept Therapeutics were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the 3rd quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $27,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $54,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $58,000. Finally, Principal Securities Inc. raised its stake in shares of Corcept Therapeutics by 63.6% during the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,827 shares of company stock worth $2,688,486 over the last quarter. 20.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

CORT has been the subject of a number of analyst reports. Piper Sandler increased their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price objective 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Price Performance

CORT stock opened at $55.49 on Thursday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00. The stock’s fifty day simple moving average is $60.20 and its 200-day simple moving average is $51.97. 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 has a market capitalization of $5.85 billion, a price-to-earnings ratio of 44.04 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 the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.