Corcept Therapeutics Incorporated (NASDAQ:CORT) is Parallel Advisors LLC’s 4th Largest Position

Parallel Advisors LLC boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,829,632 shares of the biotechnology company’s stock after purchasing an additional 15,908 shares during the period. Corcept Therapeutics comprises 4.3% of Parallel Advisors LLC’s portfolio, making the stock its 4th largest position. Parallel Advisors LLC owned 3.66% of Corcept Therapeutics worth $192,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cibc World Markets Corp purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $381,000. Twin Tree Management LP purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $306,000. Corient Private Wealth LLC purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $205,000. Natixis Advisors LLC boosted its holdings in Corcept Therapeutics by 14.1% in the fourth quarter. Natixis Advisors LLC now owns 32,123 shares of the biotechnology company’s stock valued at $1,619,000 after purchasing an additional 3,979 shares during the last quarter. Finally, Balboa Wealth Partners acquired a new stake in Corcept Therapeutics during the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,627 shares of company stock valued at $2,557,674 in the last quarter. Corporate insiders own 20.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CORT. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday, February 27th. Piper Sandler increased their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, 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 report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Corcept Therapeutics Trading Up 2.1 %

Shares of NASDAQ CORT opened at $56.01 on Monday. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 44.45 and a beta of 0.61. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $60.84 and its 200 day simple moving average is $53.14.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results 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). The company had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

About Corcept Therapeutics

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.