National Bank of Canada FI Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

National Bank of Canada FI acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 834 shares of the biotechnology company’s stock, valued at approximately $42,000.

Several other hedge funds have also recently made changes to their positions in CORT. Black Diamond Financial LLC grew its position in Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System increased its position in Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after acquiring an additional 289 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Corcept Therapeutics by 0.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock valued at $2,395,000 after acquiring an additional 368 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Corcept Therapeutics by 5.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,754 shares of the biotechnology company’s stock worth $441,000 after purchasing an additional 441 shares during the last quarter. Finally, Westover Capital Advisors LLC grew its stake in shares of Corcept Therapeutics by 3.0% during the 4th quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company’s stock valued at $785,000 after purchasing an additional 456 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 1.3 %

Shares of CORT stock opened at $68.62 on Friday. 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 Incorporated has a one year low of $20.84 and a one year high of $117.33. The company’s fifty day moving average price is $65.72 and its 200-day moving average price is $57.69. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 54.46 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 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 the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joseph K. Belanoff sold 35,102 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the completion of the transaction, the chief executive officer now owns 2,982,335 shares in the company, valued at $282,486,771.20. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean Maduck sold 100,000 shares of the business’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 sale, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. This represents a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,924 shares of company stock valued at $14,963,130. Corporate insiders own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CORT shares. Truist Financial increased their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Piper Sandler lifted their price target on shares of 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 lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright raised their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Finally, Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.25.

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.