Wakefield Asset Management LLLP Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Wakefield Asset Management LLLP bought a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 19,707 shares of the biotechnology company’s stock, valued at approximately $993,000.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics in the third quarter worth about $25,000. Kestra Investment Management LLC acquired a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $27,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $54,000. Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $58,000. Finally, Principal Securities Inc. boosted its stake in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 483 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CORT has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research note on Thursday. Piper Sandler increased their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average price target of $99.75.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $59.85 on Friday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00. The stock has a market capitalization of $6.27 billion, a P/E ratio of 47.50 and a beta of 0.58. The business has a 50-day moving average price of $59.60 and a two-hundred day moving average price of $51.16.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $200.12 million. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total value of $130,812.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock valued at $1,399,576 over the last three months. Company insiders own 20.50% 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.