Kennedy Capital Management LLC Decreases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Kennedy Capital Management LLC trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,651 shares of the biotechnology company’s stock after selling 249 shares during the quarter. Kennedy Capital Management LLC’s holdings in Corcept Therapeutics were worth $2,552,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Bank of Montreal Can raised its position in Corcept Therapeutics by 8.9% in the 4th quarter. Bank of Montreal Can now owns 13,678 shares of the biotechnology company’s stock worth $689,000 after purchasing an additional 1,122 shares during the period. Federated Hermes Inc. grew its stake in shares of Corcept Therapeutics by 107.1% during the fourth quarter. Federated Hermes Inc. now owns 13,870 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 7,172 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Corcept Therapeutics by 9.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock worth $150,000 after buying an additional 257 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Corcept Therapeutics by 11.7% during the 4th quarter. Russell Investments Group Ltd. now owns 202,504 shares of the biotechnology company’s stock worth $10,204,000 after acquiring an additional 21,281 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Corcept Therapeutics by 104.5% during the 4th quarter. Wells Fargo & Company MN now owns 90,137 shares of the biotechnology company’s stock valued at $4,542,000 after acquiring an additional 46,067 shares during the period. Institutional investors own 93.61% of the company’s stock.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 421 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now owns 9,009 shares in the company, valued at $545,765.22. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,924 shares of company stock worth $14,963,130. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 1.3 %

Shares of NASDAQ CORT opened at $68.62 on Monday. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $117.33. The stock’s fifty day simple moving average is $65.72 and its two-hundred day simple moving average is $57.79. The stock has a market capitalization of $7.24 billion, a PE ratio of 54.46 and a beta of 0.15. 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 released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CORT has been the subject of several research analyst reports. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Piper Sandler raised their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. HC Wainwright boosted their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. Finally, Truist Financial increased their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.25.

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.