Cookson Peirce & Co. Inc. Acquires Shares of 36,603 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cookson Peirce & Co. Inc. acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,603 shares of the biotechnology company’s stock, valued at approximately $1,844,000.

Several other large investors have also recently made changes to their positions in CORT. Capital Performance Advisors LLP purchased a new position in Corcept Therapeutics during the 3rd quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $27,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics in the fourth quarter worth $58,000. Finally, Principal Securities Inc. raised its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. This represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,827 shares of company stock valued at $2,688,486 in the last quarter. 20.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CORT shares. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Piper Sandler boosted their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $99.75.

Corcept Therapeutics Price Performance

CORT stock opened at $55.99 on Wednesday. The stock has a market cap of $5.91 billion, a PE ratio of 44.44 and a beta of 0.58. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00. The company has a 50-day moving average price of $60.12 and a 200 day moving average price of $51.82. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

About Corcept Therapeutics

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.