Arrowstreet Capital Limited Partnership Buys 64,321 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Arrowstreet Capital Limited Partnership raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,644,942 shares of the biotechnology company’s stock after purchasing an additional 64,321 shares during the period. Arrowstreet Capital Limited Partnership owned 1.57% of Corcept Therapeutics worth $82,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORT. Kestra Investment Management LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at $27,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at about $54,000. Newbridge Financial Services Group Inc. bought a new position in shares of Corcept Therapeutics in the fourth quarter worth about $58,000. Principal Securities Inc. grew its position in shares of Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 483 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Corcept Therapeutics during the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $114.22 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. The company’s 50-day moving average price is $63.07 and its 200-day moving average price is $55.29. The company has a market cap of $12.05 billion, a PE ratio of 90.65 and a beta of 0.61.

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

Insider Buying and Selling

In other news, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the sale, the insider now directly owns 9,009 shares in the company, valued at approximately $545,765.22. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. Insiders sold a total of 48,022 shares of company stock worth $2,703,257 over the last three months. 20.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CORT shares. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. HC Wainwright increased their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a report on Monday. Truist Financial lifted their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a report on Monday. Finally, Piper Sandler boosted their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.00.

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.