Cornercap Investment Counsel Inc. Purchases Shares of 19,256 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 19,256 shares of the biotechnology company’s stock, valued at approximately $625,000.

A number of other hedge funds have also added to or reduced their stakes in CORT. JPMorgan Chase & Co. boosted its stake in Corcept Therapeutics by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 216,081 shares of the biotechnology company’s stock valued at $4,866,000 after purchasing an additional 5,036 shares during the last quarter. American Century Companies Inc. boosted its stake in Corcept Therapeutics by 8.2% during the 1st quarter. American Century Companies Inc. now owns 88,553 shares of the biotechnology company’s stock valued at $1,994,000 after purchasing an additional 6,684 shares during the last quarter. Citigroup Inc. boosted its stake in Corcept Therapeutics by 15.0% during the 1st quarter. Citigroup Inc. now owns 103,241 shares of the biotechnology company’s stock valued at $2,325,000 after purchasing an additional 13,488 shares during the last quarter. Natixis Advisors L.P. boosted its stake in shares of Corcept Therapeutics by 56.7% in the 1st quarter. Natixis Advisors L.P. now owns 18,581 shares of the biotechnology company’s stock worth $418,000 after buying an additional 6,726 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Corcept Therapeutics by 3.3% in the 1st quarter. Acadian Asset Management LLC now owns 31,845 shares of the biotechnology company’s stock worth $716,000 after buying an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CORT. HC Wainwright cut their target price on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Truist Financial boosted their target price on 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 Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 24th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $37.30.

Corcept Therapeutics Trading Up 1.0 %

NASDAQ:CORT opened at $23.39 on Wednesday. The stock has a market capitalization of $2.42 billion, a PE ratio of 24.62 and a beta of 0.48. The firm’s 50 day moving average is $23.91 and its 200 day moving average is $25.54. Corcept Therapeutics Incorporated has a 12 month low of $20.87 and a 12 month high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping 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 company had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. During the same quarter in the previous year, the firm posted $0.14 EPS. Corcept Therapeutics’s revenue was up 31.4% on a year-over-year basis. Research analysts predict that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,443 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the transaction, the insider now owns 7,314 shares of the company’s stock, valued at $190,164. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 in the last 90 days. 18.60% of the stock is currently owned by company insiders.

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.