QRG Capital Management Inc. Purchases 6,163 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

QRG Capital Management Inc. grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,365 shares of the biotechnology company’s stock after purchasing an additional 6,163 shares during the quarter. QRG Capital Management Inc. owned approximately 0.09% of Corcept Therapeutics worth $4,856,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Corcept Therapeutics in the third quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at $27,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at $54,000. Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at $58,000. Finally, Principal Securities Inc. raised its position in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 483 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CORT shares. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Piper Sandler lifted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Trading Up 1.2 %

NASDAQ CORT opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00. The stock has a market cap of $6.35 billion, a P/E ratio of 48.08 and a beta of 0.58. The stock has a 50 day simple moving average of $59.78 and a two-hundred day simple moving average of $51.22.

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

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total transaction of $130,812.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock worth $1,399,576 over the last 90 days. 20.50% of the stock is owned by company 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.