Cibc World Markets Corp Makes New Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cibc World Markets Corp bought a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the fourth quarter, Holdings Channel.com reports. The firm bought 7,567 shares of the biotechnology company’s stock, valued at approximately $381,000.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Corcept Therapeutics by 49.2% in the third quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after buying an additional 13,787 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Corcept Therapeutics by 36.2% in the 3rd quarter. Natixis Advisors LLC now owns 28,144 shares of the biotechnology company’s stock valued at $1,303,000 after acquiring an additional 7,484 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Corcept Therapeutics by 75.8% during the 3rd quarter. Quest Partners LLC now owns 9,256 shares of the biotechnology company’s stock valued at $428,000 after acquiring an additional 3,990 shares in the last quarter. Advisors Asset Management Inc. grew its position in Corcept Therapeutics by 29.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,661 shares of the biotechnology company’s stock worth $586,000 after acquiring an additional 2,897 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Corcept Therapeutics by 42.7% during the 3rd quarter. Intech Investment Management LLC now owns 20,532 shares of the biotechnology company’s stock worth $950,000 after acquiring an additional 6,140 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $58.66 on Monday. The business has a 50-day moving average price of $61.49 and a two-hundred day moving average price of $53.95. 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 company has a market cap of $6.19 billion, a P/E ratio of 46.56 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Transactions at Corcept Therapeutics

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 stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were 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 45,627 shares of company stock valued at $2,557,674 in the last quarter. 20.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of recent research reports. Piper Sandler lifted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Finally, StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.75.

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.