Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,376,881 shares of the biotechnology company’s stock after acquiring an additional 153,100 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Corcept Therapeutics were worth $69,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gen Wealth Partners Inc purchased a new position in Corcept Therapeutics in the 4th quarter valued at $67,000. Gotham Asset Management LLC lifted its stake in shares of Corcept Therapeutics by 2.8% in the fourth quarter. Gotham Asset Management LLC now owns 19,137 shares of the biotechnology company’s stock worth $964,000 after buying an additional 523 shares in the last quarter. Focus Partners Wealth boosted its position in Corcept Therapeutics by 2.1% during the fourth quarter. Focus Partners Wealth now owns 33,073 shares of the biotechnology company’s stock worth $1,667,000 after acquiring an additional 675 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in Corcept Therapeutics by 29.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 47,929 shares of the biotechnology company’s stock valued at $2,415,000 after acquiring an additional 11,040 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Corcept Therapeutics by 48.5% in the 4th quarter. Deutsche Bank AG now owns 73,600 shares of the biotechnology company’s stock worth $3,709,000 after purchasing an additional 24,051 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $70.23 on Friday. The company’s fifty day moving average price is $66.86 and its 200 day moving average price is $60.87. The firm has a market capitalization of $7.45 billion, a P/E ratio of 55.74 and a beta of 0.22. Corcept Therapeutics Incorporated has a 12 month low of $26.87 and a 12 month high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The business 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 company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics 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 completion of the sale, the insider now owns 85,622 shares of the company’s stock, valued at $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 7,060 shares of the firm’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 completion of the sale, the insider now directly owns 5,487 shares in the company, valued at approximately $407,738.97. The trade was a 56.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,738 shares of company stock worth $20,476,238. Corporate insiders own 20.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CORT shares. HC Wainwright dropped their price target 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. Piper Sandler lifted their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. StockNews.com upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $138.25.

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.