Occudo Quantitative Strategies LP Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Occudo Quantitative Strategies LP purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,600 shares of the biotechnology company’s stock, valued at approximately $282,000.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $27,000. Canada Pension Plan Investment Board purchased a new position in Corcept Therapeutics in the 4th quarter valued at approximately $40,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics in the 4th quarter valued at approximately $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the 4th quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the 4th quarter valued at approximately $58,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research note on Tuesday, May 6th. HC Wainwright dropped their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Finally, Piper Sandler raised their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. 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 price target of $138.25.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $75.08 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. The stock has a fifty day moving average of $68.56 and a two-hundred day moving average of $61.63. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 59.59 and a beta of 0.22. Corcept Therapeutics Incorporated has a fifty-two week low of $27.30 and a fifty-two week high of $117.33.

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

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, May 12th. The stock was sold at an average price of $72.06, for a total value of $158,532.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction on Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the sale, the insider now directly owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock valued at $20,484,994 over the last quarter. Company insiders own 20.80% of the company’s stock.

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.