Corcept Therapeutics Incorporated (NASDAQ:CORT) Stake Lifted by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 273,974 shares of the biotechnology company’s stock after buying an additional 31,183 shares during the quarter. Franklin Resources Inc.’s holdings in Corcept Therapeutics were worth $13,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CORT. Synergy Asset Management LLC lifted its position in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $4,483,000. State Street Corp raised its holdings in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after buying an additional 19,893 shares during the last quarter. Burney Co. boosted its position in shares of Corcept Therapeutics by 9.1% during the fourth 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 during the period. Finally, JPMorgan Chase & Co. grew its holdings in Corcept Therapeutics by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after buying an additional 76,573 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Ratings Changes

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

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $74.65 on Tuesday. The company has a 50-day moving average of $65.10 and a 200-day moving average of $56.73. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 59.25 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 Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly 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 return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 18,303 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. Insiders sold a total of 163,124 shares of company stock valued at $15,074,318 over the last three months. 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.