Harvest Fund Management Co. Ltd Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Harvest Fund Management Co. Ltd acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,362 shares of the biotechnology company’s stock, valued at approximately $69,000.

Other large investors have also made changes to their positions in the company. Synergy Asset Management LLC increased its stake in Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after acquiring an additional 262,503 shares during the period. Van ECK Associates Corp bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $4,483,000. Victory Capital Management Inc. increased its position in shares of Corcept Therapeutics by 49.2% during the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after purchasing an additional 13,787 shares during the period. State Street Corp raised 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 valued at $162,871,000 after purchasing an additional 19,893 shares in the last quarter. Finally, Burney Co. lifted its position in Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after purchasing an additional 39,657 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler boosted 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 increased their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.75.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business’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 transaction of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,627 shares of company stock worth $2,557,674. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $58.66 on Monday. The firm has a market cap of $6.19 billion, a PE ratio of 46.56 and a beta of 0.61. The company’s 50-day moving average price is $61.49 and its two-hundred day moving average price is $53.95. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 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 during the quarter, compared to analyst estimates of $200.12 million. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.