Sherbrooke Park Advisers LLC Buys Shares of 5,620 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Sherbrooke Park Advisers LLC bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,620 shares of the biotechnology company’s stock, valued at approximately $283,000.

Several other hedge funds have also recently bought and sold shares of the company. Black Diamond Financial LLC increased its holdings in Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after buying an additional 200 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Corcept Therapeutics by 9.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock worth $150,000 after buying an additional 257 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock worth $426,000 after buying an additional 268 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after buying an additional 289 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Corcept Therapeutics by 0.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock worth $2,395,000 after buying an additional 368 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $74.82 on Tuesday. The company has a market capitalization of $7.93 billion, a PE ratio of 59.38 and a beta of 0.22. The stock has a 50-day moving average price of $68.96 and a two-hundred day moving average price of $62.01. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12 month low of $27.30 and a 12 month high of $117.33.

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

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was 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 owns 9,009 shares of the company’s stock, valued at approximately $545,765.22. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $72.06, for a total value of $158,532.00. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock valued at $20,484,994 over the last 90 days. Company insiders own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CORT. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, HC Wainwright dropped their target price on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. One 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 company has a consensus rating of “Moderate Buy” and an average target price of $138.25.

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.