Parallel Advisors LLC Buys 15,908 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Parallel Advisors LLC increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,829,632 shares of the biotechnology company’s stock after acquiring an additional 15,908 shares during the quarter. Corcept Therapeutics makes up 4.3% of Parallel Advisors LLC’s holdings, making the stock its 4th largest holding. Parallel Advisors LLC’s holdings in Corcept Therapeutics were worth $192,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Black Diamond Financial LLC grew its holdings in shares of Corcept Therapeutics by 4.0% during the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after buying an additional 200 shares in the last quarter. Hancock Whitney Corp grew its holdings in shares of Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 270 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after buying an additional 289 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Corcept Therapeutics by 0.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock valued at $2,395,000 after buying an additional 368 shares in the last quarter. Finally, Westover Capital Advisors LLC grew its holdings in shares of Corcept Therapeutics by 3.0% during the fourth quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company’s stock valued at $785,000 after buying an additional 456 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

Corcept Therapeutics Price Performance

CORT opened at $56.01 on Monday. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 44.45 and a beta of 0.61. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $60.84 and a 200 day moving average price of $53.14.

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