BI Asset Management Fondsmaeglerselskab A S Buys 1,935 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 17.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,851 shares of the biotechnology company’s stock after acquiring an additional 1,935 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Corcept Therapeutics were worth $417,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 448 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Corcept Therapeutics by 9.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after acquiring an additional 500 shares during the period. Linden Thomas Advisory Services LLC grew its stake in Corcept Therapeutics by 1.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock valued at $1,841,000 after acquiring an additional 555 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Corcept Therapeutics by 1.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after buying an additional 641 shares during the last quarter. Finally, Meritage Portfolio Management boosted its position in shares of Corcept Therapeutics by 3.7% during the fourth quarter. Meritage Portfolio Management now owns 26,268 shares of the biotechnology company’s stock valued at $853,000 after buying an additional 949 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CORT shares. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. HC Wainwright boosted their price objective on Corcept Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial boosted their price objective on Corcept Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Stock Down 1.1 %

Shares of NASDAQ:CORT opened at $27.52 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $34.28. The firm has a 50 day moving average of $25.02 and a 200 day moving average of $25.21. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 25.96 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.95 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 business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $23.59, for a total transaction of $51,898.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Corcept Therapeutics news, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the sale, the insider now owns 85,222 shares of the company’s stock, valued at approximately $2,386,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $23.59, for a total transaction of $51,898.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,572 shares of company stock worth $3,211,123. 20.50% of the stock is owned by insiders.

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.