Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Purchased by Westover Capital Advisors LLC

Westover Capital Advisors LLC grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,587 shares of the biotechnology company’s stock after purchasing an additional 456 shares during the period. Westover Capital Advisors LLC’s holdings in Corcept Therapeutics were worth $785,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CORT. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the third quarter valued at $25,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics during the 4th quarter worth $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $58,000. Finally, Principal Securities Inc. increased its holdings 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 valued at $63,000 after purchasing an additional 483 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,600 shares of company stock worth $1,399,576. 20.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Finally, Piper Sandler lifted their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Stock Down 2.5 %

Shares of NASDAQ CORT opened at $59.07 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm’s 50-day moving average is $59.96 and its two-hundred day moving average is $51.65. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. The company has a market capitalization of $6.23 billion, a PE ratio of 46.88 and a beta of 0.58.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Equities analysts anticipate 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.