Pitcairn Co. Takes $209,000 Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Pitcairn Co. purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,138 shares of the biotechnology company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CORT. Norges Bank acquired a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $42,055,000. Braun Stacey Associates Inc. purchased a new position in Corcept Therapeutics during the fourth quarter worth approximately $14,935,000. Synergy Asset Management LLC grew its holdings in Corcept Therapeutics by 131.3% in the fourth 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 period. Raymond James Financial Inc. purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $12,084,000. Finally, Vanguard Group Inc. raised its stake in shares of Corcept Therapeutics by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock worth $509,726,000 after buying an additional 109,294 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sean Maduck sold 18,303 shares of Corcept Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider now owns 85,622 shares of the company’s stock, valued at $5,196,399.18. This trade represents a 17.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,124 shares of company stock valued at $15,074,318 in the last quarter. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $74.45 on Monday. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. The company has a market cap of $7.85 billion, a P/E ratio of 59.09 and a beta of 0.14. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $64.81 and its 200-day moving average price is $56.50.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal 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.