Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Position Lowered by Toroso Investments LLC

Toroso Investments LLC lessened its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,111 shares of the biotechnology company’s stock after selling 10,184 shares during the quarter. Toroso Investments LLC owned approximately 0.06% of Corcept Therapeutics worth $1,215,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its stake in shares of Corcept Therapeutics by 3.0% during the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 427 shares during the last quarter. Barclays PLC grew its stake in Corcept Therapeutics by 0.5% in the 1st quarter. Barclays PLC now owns 85,961 shares of the biotechnology company’s stock valued at $1,862,000 after buying an additional 427 shares during the last quarter. Campbell Newman Asset Management Inc. grew its stake in Corcept Therapeutics by 1.0% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 48,645 shares of the biotechnology company’s stock valued at $1,054,000 after buying an additional 459 shares during the last quarter. Mackenzie Financial Corp grew its stake in Corcept Therapeutics by 7.0% in the 4th quarter. Mackenzie Financial Corp now owns 11,697 shares of the biotechnology company’s stock valued at $238,000 after buying an additional 766 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in Corcept Therapeutics by 0.7% in the 4th quarter. Voya Investment Management LLC now owns 116,132 shares of the biotechnology company’s stock valued at $2,359,000 after buying an additional 791 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,850 shares of Corcept Therapeutics stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $30.14, for a total transaction of $85,899.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,850 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $30.14, for a total value of $85,899.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David L. Mahoney sold 25,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $30.95, for a total transaction of $773,750.00. Following the completion of the transaction, the director now directly owns 11,297 shares of the company’s stock, valued at $349,642.15. The disclosure for this sale can be found here. Insiders sold 62,055 shares of company stock valued at $1,934,228 in the last ninety days. Insiders own 19.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CORT. StockNews.com began coverage on shares of Corcept Therapeutics in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Piper Sandler raised their target price on shares of Corcept Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Truist Financial raised their price target on shares of Corcept Therapeutics from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. HC Wainwright raised their price target on shares of Corcept Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.81.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $33.47 on Monday. The company has a 50-day moving average of $29.00 and a 200-day moving average of $24.79. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 40.33 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52 week low of $17.86 and a 52 week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.10. The company had revenue of $117.72 million during the quarter, compared to the consensus estimate of $109.60 million. Corcept Therapeutics had a net margin of 22.02% and a return on equity of 19.57%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.78 EPS for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.