Segall Bryant & Hamill LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Segall Bryant & Hamill LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 21,784 shares of the biotechnology company’s stock, valued at approximately $1,098,000.

A number of other institutional investors have also added to or reduced their stakes in CORT. Kestra Investment Management LLC purchased a new position in Corcept Therapeutics during the 4th quarter valued at about $27,000. USA Financial Formulas purchased a new position in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics during the 4th quarter worth approximately $58,000. Principal Securities Inc. lifted its stake 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Corcept Therapeutics in the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Piper Sandler raised their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.75.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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. In the last 90 days, insiders have sold 48,022 shares of company stock valued at $2,703,257. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Down 3.6 %

Shares of CORT stock opened at $54.63 on Friday. 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 firm has a market cap of $5.76 billion, a P/E ratio of 43.36 and a beta of 0.61. The business has a 50-day moving average price of $61.89 and a two-hundred day moving average price of $54.47. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last issued its 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 firm had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Corcept Therapeutics 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.