Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,268 shares of the biotechnology company’s stock after purchasing an additional 949 shares during the period. Meritage Portfolio Management’s holdings in Corcept Therapeutics were worth $853,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CORT. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Corcept Therapeutics in the third quarter valued at approximately $4,726,000. Allspring Global Investments Holdings LLC lifted its position in shares of Corcept Therapeutics by 351.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock valued at $2,280,000 after acquiring an additional 65,148 shares in the last quarter. HighTower Advisors LLC purchased a new position in Corcept Therapeutics during the third quarter worth approximately $580,000. Linden Thomas Advisory Services LLC lifted its position in Corcept Therapeutics by 1.0% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock worth $1,841,000 after buying an additional 555 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in Corcept Therapeutics during the third quarter worth approximately $1,460,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sean Maduck sold 17,219 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $25.00, for a total value of $430,475.00. Following the sale, the insider now directly owns 75,222 shares in the company, valued at approximately $1,880,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders sold 83,783 shares of company stock worth $2,118,996 over the last three months. 19.80% of the stock is owned by insiders.

Corcept Therapeutics Stock Up 3.5 %

CORT stock traded up $0.77 on Friday, reaching $22.98. 422,865 shares of the company’s stock were exchanged, compared to its average volume of 1,460,528. The stock has a fifty day moving average of $23.81 and a 200-day moving average of $25.38. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $34.28. The firm has a market cap of $2.39 billion, a PE ratio of 24.18 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same period in the prior year, the business earned $0.14 earnings per share. The business’s revenue was up 31.4% on a year-over-year basis. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial raised their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $39.30.

About Corcept Therapeutics

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.