Brevan Howard Capital Management LP Invests $424,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Brevan Howard Capital Management LP purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, HoldingsChannel reports. The firm purchased 8,423 shares of the biotechnology company’s stock, valued at approximately $424,000.

Several other institutional investors have also recently bought and sold shares of CORT. Synergy Asset Management LLC increased its stake in shares of Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after buying an additional 262,503 shares during the period. Van ECK Associates Corp bought a new position in Corcept Therapeutics in the fourth quarter valued at about $4,483,000. Burney Co. increased its position in Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after purchasing an additional 39,657 shares during the period. HighTower Advisors LLC raised its holdings in Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company’s stock worth $4,720,000 after purchasing an additional 22,011 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Corcept Therapeutics by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock valued at $11,712,000 after purchasing an additional 76,573 shares during the period. Institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CORT. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research report on Tuesday. Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. Finally, StockNews.com upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus price target of $138.25.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $70.23 on Friday. The stock’s fifty day simple moving average is $66.86 and its 200 day simple moving average is $60.78. 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 company has a market capitalization of $7.45 billion, a PE ratio of 55.74 and a beta of 0.22. Corcept Therapeutics Incorporated has a 12 month low of $26.53 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million for the quarter, compared to analysts’ expectations of $177.93 million. During the same quarter in the previous year, the business posted $0.25 EPS. Corcept Therapeutics’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the sale, the insider now owns 9,009 shares of the company’s stock, valued at $545,765.22. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Guyer sold 7,060 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.31, for a total value of $524,628.60. Following the transaction, the insider now directly owns 5,487 shares of the company’s stock, valued at $407,738.97. This represents a 56.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock worth $20,476,238 over the last quarter. 20.80% of the stock is currently 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.