Strs Ohio Buys 11,700 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Strs Ohio lifted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 585.0% during the fourth quarter, HoldingsChannel reports. The firm owned 13,700 shares of the biotechnology company’s stock after purchasing an additional 11,700 shares during the period. Strs Ohio’s holdings in Corcept Therapeutics were worth $444,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Linden Thomas Advisory Services LLC grew its holdings in shares of Corcept Therapeutics by 0.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after purchasing an additional 368 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Corcept Therapeutics by 9.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 500 shares during the period. Exchange Traded Concepts LLC lifted its stake in Corcept Therapeutics by 1.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock worth $1,444,000 after acquiring an additional 641 shares during the period. FinTrust Capital Advisors LLC purchased a new stake in Corcept Therapeutics in the third quarter worth about $27,000. Finally, FNY Investment Advisers LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth about $32,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $22.80 on Monday. The stock’s fifty day moving average is $23.81 and its two-hundred day moving average is $25.32. The firm has a market capitalization of $2.37 billion, a P/E ratio of 24.00 and a beta of 0.48. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, April 23rd. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Truist Financial raised their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Buy” and a consensus target price of $39.30.

Insider Buying and Selling at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Sean Maduck sold 27,068 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now owns 74,455 shares in the company, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at approximately $176,124. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,783 shares of company stock worth $2,118,996. Corporate insiders own 19.80% of the company’s stock.

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.