Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Burney Co.

Burney Co. lifted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.1% in the fourth quarter, HoldingsChannel reports. The firm owned 473,821 shares of the biotechnology company’s stock after buying an additional 39,657 shares during the quarter. Corcept Therapeutics makes up approximately 0.8% of Burney Co.’s holdings, making the stock its 24th biggest holding. Burney Co.’s holdings in Corcept Therapeutics were worth $23,876,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the third quarter valued at approximately $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $36,000. GAMMA Investing LLC grew its stake in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,147 shares in the last quarter. KBC Group NV increased its holdings in Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 496 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Corcept Therapeutics in the second quarter valued at $205,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $52.86 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $62.22. The company has a 50-day simple moving average of $54.90 and a 200-day simple moving average of $44.47. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 41.95 and a beta of 0.56.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the sale, the insider now owns 5,796 shares in the company, valued at approximately $283,830.12. This trade represents a 53.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,011 shares of company stock valued at $1,951,268 over the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CORT. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has an average rating of “Buy” and a consensus target price of $65.25.

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.