Intech Investment Management LLC Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Intech Investment Management LLC increased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 153.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 52,107 shares of the biotechnology company’s stock after purchasing an additional 31,575 shares during the period. Intech Investment Management LLC’s holdings in Corcept Therapeutics were worth $2,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock valued at $192,975,000 after purchasing an additional 15,908 shares during the last quarter. State Street Corp lifted its holdings in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after purchasing an additional 99,470 shares during the last quarter. FMR LLC lifted its holdings in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CORT. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Piper Sandler upped their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.75.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $58.00 on Thursday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $61.20 and its two-hundred day moving average is $53.48. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 46.03 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insiders Place Their Bets

In related news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now owns 85,318 shares in the company, valued at $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,627 shares of company stock worth $2,557,674. Company 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.