Trexquant Investment LP Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Trexquant Investment LP purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 65,113 shares of the biotechnology company’s stock, valued at approximately $3,281,000.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $27,000. National Bank of Canada FI bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $42,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $58,000. Finally, Principal Securities Inc. grew its stake in shares of Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at $183,912,324.01. The trade was a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at $8,608,435.88. The trade was a 53.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,124 shares of company stock valued at $15,074,318. Insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

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

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $74.45 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $117.33. The business has a 50 day simple moving average of $64.81 and a two-hundred day simple moving average of $56.50. The stock has a market capitalization of $7.85 billion, a PE ratio of 59.09 and a beta of 0.14.

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