Nebula Research & Development LLC Invests $583,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Nebula Research & Development LLC acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,578 shares of the biotechnology company’s stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CORT. World Investment Advisors LLC purchased a new position in shares of Corcept Therapeutics in the 3rd quarter worth about $503,000. Franklin Resources Inc. increased its position in shares of Corcept Therapeutics by 1.0% in the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock worth $10,998,000 after purchasing an additional 2,475 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after purchasing an additional 76,573 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Corcept Therapeutics by 20.3% in the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 506 shares during the last quarter. Finally, Range Financial Group LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth approximately $1,081,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $70.95 on Tuesday. The firm has a fifty day moving average price of $64.96 and a 200-day moving average price of $59.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a market cap of $7.49 billion, a PE ratio of 56.31 and a beta of 0.15. Corcept Therapeutics Incorporated has a 1 year low of $22.60 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial upped their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, HC Wainwright increased their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $143.25.

Insider Activity

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 100,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the transaction, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock valued at $15,117,614 in the last ninety days. Insiders own 20.50% of the company’s stock.

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.