Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,219 shares of the biotechnology company’s stock after selling 9,072 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Corcept Therapeutics were worth $1,631,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $32,000. Planned Solutions Inc. bought a new position in shares of Corcept Therapeutics during the fourth quarter worth about $45,000. Headlands Technologies LLC bought a new stake in Corcept Therapeutics in the 4th quarter valued at about $47,000. Strs Ohio bought a new position in Corcept Therapeutics in the 3rd quarter worth about $54,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $125,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CORT. Truist Financial increased their price objective on Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, HC Wainwright increased their price objective on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Price Performance

Shares of CORT opened at $24.48 on Wednesday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 23.09 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $34.28. The firm’s 50 day moving average is $23.99 and its 200-day moving average is $25.13.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The company had revenue of $146.80 million for the quarter, compared to analyst estimates of $141.19 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 38.9% compared to the same quarter last year. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.97 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 27,068 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Joseph Douglas Lyon sold 10,830 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $26.00, for a total value of $281,580.00. Following the completion of the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at $190,164. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 27,068 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the transaction, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The disclosure for this sale can be found here. Insiders sold 92,413 shares of company stock valued at $2,352,176 in the last three months. Corporate insiders own 20.50% of the company’s stock.

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.