Platinum Investment Management Ltd. Has $43,000 Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Platinum Investment Management Ltd. trimmed its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 30.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 856 shares of the biotechnology company’s stock after selling 375 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Corcept Therapeutics were worth $43,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CORT. Parallel Advisors LLC lifted its position in shares of Corcept Therapeutics by 0.4% during the fourth 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 in the last quarter. State Street Corp increased its stake in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock worth $110,108,000 after purchasing an additional 99,470 shares in the last quarter. FMR LLC increased its stake in shares of Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after purchasing an additional 352,947 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Down 2.4 %

CORT stock opened at $56.50 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a fifty day moving average price of $61.07 and a 200 day moving average price of $53.45. The firm has a market cap of $5.96 billion, a PE ratio of 44.84 and a beta of 0.61. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00.

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

Insider Buying and Selling at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,627 shares of company stock worth $2,557,674 over the last quarter. Insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

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

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.