Nisa Investment Advisors LLC Boosts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Nisa Investment Advisors LLC raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,900 shares of the biotechnology company’s stock after buying an additional 500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter valued at about $27,000. Lazard Asset Management LLC purchased a new stake in shares of Corcept Therapeutics during the 2nd quarter worth about $28,000. FNY Investment Advisers LLC purchased a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $32,000. Tower Research Capital LLC TRC purchased a new stake in shares of Corcept Therapeutics during the 2nd quarter worth about $39,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CORT shares. Truist Financial boosted their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, HC Wainwright decreased their target price on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 2nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $37.30.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $22.95 on Friday. The stock’s 50 day moving average price is $23.93 and its 200 day moving average price is $25.48. The firm has a market capitalization of $2.38 billion, a PE ratio of 24.16 and a beta of 0.48. Corcept Therapeutics Incorporated has a one year low of $20.87 and a one year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. Corcept Therapeutics’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. On average, analysts forecast that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph Douglas Lyon sold 5,443 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total transaction of $141,518.00. Following the transaction, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph Douglas Lyon sold 5,443 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total transaction of $141,518.00. Following the completion of the transaction, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 83,783 shares of company stock valued at $2,118,996. Corporate insiders own 19.80% of the company’s stock.

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.