D. E. Shaw & Co. Inc. Raises Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

D. E. Shaw & Co. Inc. boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 886,576 shares of the biotechnology company’s stock after buying an additional 98,512 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Corcept Therapeutics were worth $44,675,000 as of its most recent filing with the Securities and Exchange Commission.

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

Corcept Therapeutics Stock Performance

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

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com raised 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 shares of Corcept Therapeutics in a research note on Tuesday. Piper Sandler upped their price objective 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. HC Wainwright reduced their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $138.25.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the sale, the insider now directly owns 85,622 shares in the company, valued at approximately $8,608,435.88. This trade represents a 53.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Guyer sold 7,060 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the transaction, the insider now owns 5,487 shares of the company’s stock, valued at approximately $407,738.97. This represents a 56.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,738 shares of company stock worth $20,476,238. Company insiders own 20.80% 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.