Savant Capital LLC Has $211,000 Stock Holdings in Corcept Therapeutics Incorporated $CORT

Savant Capital LLC cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 72.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,050 shares of the biotechnology company’s stock after selling 15,827 shares during the period. Savant Capital LLC’s holdings in Corcept Therapeutics were worth $211,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Corcept Therapeutics by 223.4% in the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after purchasing an additional 587,053 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Corcept Therapeutics by 111.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company’s stock worth $19,404,000 after acquiring an additional 268,155 shares during the period. First Trust Advisors LP raised its holdings in shares of Corcept Therapeutics by 34.1% during the third quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company’s stock worth $59,858,000 after acquiring an additional 183,038 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Corcept Therapeutics by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 365,838 shares of the biotechnology company’s stock worth $30,405,000 after acquiring an additional 44,070 shares during the period. Finally, Checkpoint Capital L.P. raised its holdings in shares of Corcept Therapeutics by 14.1% during the third quarter. Checkpoint Capital L.P. now owns 392,331 shares of the biotechnology company’s stock worth $32,607,000 after acquiring an additional 48,414 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director G Leonard Baker, Jr. bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $33.14 per share, with a total value of $3,314,000.00. Following the completion of the transaction, the director owned 1,146,631 shares in the company, valued at approximately $37,999,351.34. This trade represents a 9.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $70.60, for a total transaction of $1,412,000.00. Following the completion of the transaction, the insider directly owned 3,985 shares of the company’s stock, valued at approximately $281,341. This trade represents a 83.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 242,965 shares of company stock valued at $14,802,964 in the last quarter. Company insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $72.62 on Monday. The company has a market cap of $7.80 billion, a P/E ratio of 207.49 and a beta of 0.50. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $91.00. The company has a fifty day simple moving average of $51.73 and a 200 day simple moving average of $51.98.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The business had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.53 EPS for the current year.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.