Headlands Technologies LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Headlands Technologies LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,452 shares of the biotechnology company’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $4,726,000. Allspring Global Investments Holdings LLC raised its position in shares of Corcept Therapeutics by 351.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock valued at $2,280,000 after buying an additional 65,148 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $580,000. Linden Thomas Advisory Services LLC raised its position in shares of Corcept Therapeutics by 1.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock valued at $1,841,000 after buying an additional 555 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $1,460,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CORT shares. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, April 23rd. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Truist Financial increased their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, February 16th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $39.30.

Corcept Therapeutics Stock Up 2.4 %

Shares of Corcept Therapeutics stock opened at $23.88 on Thursday. The company’s fifty day simple moving average is $23.89 and its two-hundred day simple moving average is $25.25. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $34.28. The firm has a market cap of $2.49 billion, a PE ratio of 25.14 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $23.59, for a total transaction of $51,898.00. The disclosure for this sale can be found here. Insiders have sold 81,583 shares of company stock worth $2,070,596 over the last 90 days. 20.50% of the stock is owned by company insiders.

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.