QRG Capital Management Inc. Increases Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

QRG Capital Management Inc. raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.8% during the fourth quarter, HoldingsChannel reports. The fund owned 96,365 shares of the biotechnology company’s stock after buying an additional 6,163 shares during the period. QRG Capital Management Inc.’s holdings in Corcept Therapeutics were worth $4,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning grew its position in Corcept Therapeutics by 7.2% during the 3rd quarter. Creative Planning now owns 12,467 shares of the biotechnology company’s stock valued at $577,000 after purchasing an additional 841 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Corcept Therapeutics in the third quarter worth approximately $238,000. Nisa Investment Advisors LLC grew its holdings in shares of Corcept Therapeutics by 83.5% during the third quarter. Nisa Investment Advisors LLC now owns 9,851 shares of the biotechnology company’s stock valued at $456,000 after buying an additional 4,483 shares during the last quarter. US Bancorp DE increased its position in shares of Corcept Therapeutics by 162.2% during the third quarter. US Bancorp DE now owns 19,683 shares of the biotechnology company’s stock valued at $911,000 after acquiring an additional 12,177 shares in the last quarter. Finally, M&G PLC purchased a new position in Corcept Therapeutics in the 3rd quarter worth approximately $11,173,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Up 1.2 %

Corcept Therapeutics stock opened at $60.58 on Friday. The stock has a market cap of $6.35 billion, a PE ratio of 48.08 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a fifty day moving average of $59.78 and a 200 day moving average of $51.22. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00.

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 business had revenue of $181.89 million during 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%. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,600 shares of company stock worth $1,399,576. Company insiders own 20.50% of the company’s stock.

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.