Cornerstone Investment Partners LLC Purchases New Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cornerstone Investment Partners LLC purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,233 shares of the biotechnology company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CORT. Norges Bank purchased a new stake in Corcept Therapeutics during the 4th quarter valued at $15,648,000. Vanguard Group Inc. grew its position in Corcept Therapeutics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company’s stock valued at $264,915,000 after acquiring an additional 458,414 shares during the last quarter. BlackRock Inc. grew its position in Corcept Therapeutics by 2.5% in the 1st quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock valued at $347,366,000 after acquiring an additional 376,774 shares during the last quarter. FMR LLC grew its position in Corcept Therapeutics by 102.4% in the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock valued at $18,634,000 after acquiring an additional 346,000 shares during the last quarter. Finally, Morgan Stanley grew its position in Corcept Therapeutics by 31.9% in the 3rd quarter. Morgan Stanley now owns 1,225,047 shares of the biotechnology company’s stock valued at $33,376,000 after acquiring an additional 296,015 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CORT. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. HC Wainwright dropped their price target on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. Finally, Truist Financial increased their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $37.30.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the sale, the insider now directly owns 74,455 shares in the company, valued at $1,933,596.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at $176,124. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.97, for a total value of $702,955.96. Following the completion of the sale, the insider now owns 74,455 shares in the company, valued at approximately $1,933,596.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,783 shares of company stock worth $2,118,996. 19.80% of the stock is owned by insiders.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $22.95 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $20.87 and a 1-year high of $34.28. The stock’s 50-day moving average is $23.93 and its 200 day moving average is $25.48. The company has a market cap of $2.38 billion, a P/E ratio of 24.16 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last issued 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. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The company had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Corcept Therapeutics Company 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.