Mutual of America Capital Management LLC Buys 36,255 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Mutual of America Capital Management LLC grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 33.3% during the 4th quarter, HoldingsChannel reports. The fund owned 144,972 shares of the biotechnology company’s stock after purchasing an additional 36,255 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Corcept Therapeutics were worth $4,709,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 9.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 500 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after purchasing an additional 19,877 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $45,000. FNY Investment Advisers LLC bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $32,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Corcept Therapeutics by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 213,810 shares of the biotechnology company’s stock valued at $6,945,000 after purchasing an additional 32,185 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $23.15 on Tuesday. The stock has a fifty day moving average of $23.88 and a 200 day moving average of $25.57. The stock has a market cap of $2.40 billion, a PE ratio of 24.37 and a beta of 0.48. Corcept Therapeutics Incorporated has a one year low of $20.87 and a one year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock worth $2,118,996 over the last quarter. 18.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CORT shares. HC Wainwright lowered their price target on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. Truist Financial upped their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $37.30.

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.