Comerica Bank Acquires 600 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Comerica Bank increased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,641 shares of the biotechnology company’s stock after purchasing an additional 600 shares during the period. Comerica Bank’s holdings in Corcept Therapeutics were worth $1,947,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Black Diamond Financial LLC boosted its stake in shares of Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after acquiring an additional 200 shares in the last quarter. Quadrant Capital Group LLC raised its position 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 valued at $150,000 after purchasing an additional 257 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Corcept Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock worth $426,000 after buying an additional 268 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after buying an additional 289 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in Corcept Therapeutics by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock valued at $2,395,000 after buying an additional 368 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Guyer sold 7,060 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total transaction of $524,628.60. Following the completion of the sale, the insider now owns 5,487 shares in the company, valued at $407,738.97. This represents a 56.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock valued at $20,476,238 over the last quarter. Corporate insiders own 20.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research note on Tuesday. StockNews.com raised Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler raised their price objective 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, HC Wainwright cut their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus target price of $138.25.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $70.23 on Friday. The firm has a market capitalization of $7.45 billion, a PE ratio of 55.74 and a beta of 0.22. 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 1-year low of $26.53 and a 1-year high of $117.33. The business’s 50 day moving average is $66.86 and its 200-day moving average is $60.78.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $157.21 million for 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 business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.