Mackenzie Financial Corp Invests $209,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Mackenzie Financial Corp acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,448 shares of the biotechnology company’s stock, valued at approximately $209,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Corcept Therapeutics by 102.4% in the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after buying an additional 346,000 shares during the last quarter. Acadian Asset Management LLC lifted its position in Corcept Therapeutics by 996.5% in the 3rd quarter. Acadian Asset Management LLC now owns 318,027 shares of the biotechnology company’s stock valued at $8,653,000 after acquiring an additional 289,023 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Corcept Therapeutics during the 3rd quarter valued at $4,726,000. Burney Co. increased its holdings in shares of Corcept Therapeutics by 40.2% in the 3rd quarter. Burney Co. now owns 401,263 shares of the biotechnology company’s stock worth $10,932,000 after purchasing an additional 115,006 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Corcept Therapeutics in the third quarter worth $1,960,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CORT shares. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, Truist Financial increased their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $39.30.

Corcept Therapeutics Stock Performance

CORT stock opened at $23.37 on Tuesday. The business’s 50-day moving average is $23.83 and its two-hundred day moving average is $25.29. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 24.60 and a beta of 0.48. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. Equities analysts predict that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at $176,124. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock worth $2,118,996 in the last 90 days. 20.50% of the stock is currently owned by 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.