OMERS ADMINISTRATION Corp Decreases Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

OMERS ADMINISTRATION Corp decreased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 54.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,500 shares of the biotechnology company’s stock after selling 52,900 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Corcept Therapeutics were worth $2,242,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORT. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board bought a new position in Corcept Therapeutics during the fourth quarter valued at $40,000. National Bank of Canada FI purchased a new stake in Corcept Therapeutics in the fourth quarter worth $42,000. USA Financial Formulas bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $58,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CORT shares. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. Finally, HC Wainwright cut their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.25.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 421 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $20,484,994. Corporate insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $70.84 on Thursday. The business’s fifty day moving average is $67.83 and its 200 day moving average is $61.27. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 56.22 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a 52-week low of $27.30 and a 52-week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Corcept Therapeutics 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.