Meritage Portfolio Management Purchases 949 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Meritage Portfolio Management increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,268 shares of the biotechnology company’s stock after purchasing an additional 949 shares during the period. Meritage Portfolio Management’s holdings in Corcept Therapeutics were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new position in Corcept Therapeutics in the 3rd quarter worth $27,000. FNY Investment Advisers LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $32,000. Planned Solutions Inc. acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth about $45,000. Strs Ohio acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $54,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Corcept Therapeutics during the 3rd quarter worth about $125,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CORT has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday. Truist Financial increased their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and an average price target of $39.30.

Corcept Therapeutics Price Performance

NASDAQ:CORT traded up $0.77 during mid-day trading on Friday, reaching $22.98. The stock had a trading volume of 422,865 shares, compared to its average volume of 1,460,528. The stock has a 50-day simple moving average of $23.81 and a two-hundred day simple moving average of $25.38. The stock has a market capitalization of $2.39 billion, a PE ratio of 24.18 and a beta of 0.48. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results 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 net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. During the same quarter last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. Equities analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS 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 dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at approximately $176,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 in the last three months. Insiders own 19.80% 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.