Crestline Management LP Purchases 4,615 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Crestline Management LP raised its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 50.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,774 shares of the biotechnology company’s stock after purchasing an additional 4,615 shares during the period. Crestline Management LP’s holdings in Corcept Therapeutics were worth $694,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CORT. Franklin Resources Inc. increased its position in shares of Corcept Therapeutics by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock valued at $10,998,000 after buying an additional 2,475 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after acquiring an additional 76,573 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 20.3% during the fourth quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 506 shares during the period. Burney Co. lifted its holdings in shares of Corcept Therapeutics by 9.1% during the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock valued at $23,876,000 after purchasing an additional 39,657 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at approximately $54,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $70.23 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $26.53 and a fifty-two week high of $117.33. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 55.74 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business has a 50-day moving average of $66.86 and a 200-day moving average of $60.78.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the transaction, the insider now owns 9,009 shares in the company, valued at approximately $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 18,303 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the sale, the insider now owns 85,622 shares in the company, valued at $5,196,399.18. This represents a 17.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,738 shares of company stock worth $20,476,238. Insiders own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. StockNews.com raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday. HC Wainwright decreased their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and an average target price of $138.25.

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.