Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 51.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,756 shares of the biotechnology company’s stock after purchasing an additional 7,038 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corcept Therapeutics were worth $674,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CORT. FMR LLC grew its holdings in Corcept Therapeutics by 102.4% in the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock valued at $18,634,000 after purchasing an additional 346,000 shares during the period. Acadian Asset Management LLC grew its holdings in Corcept Therapeutics by 996.5% in the third quarter. Acadian Asset Management LLC now owns 318,027 shares of the biotechnology company’s stock valued at $8,653,000 after purchasing an additional 289,023 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Corcept Therapeutics during the third quarter valued at approximately $4,726,000. Burney Co. lifted its position in Corcept Therapeutics by 40.2% during the third quarter. Burney Co. now owns 401,263 shares of the biotechnology company’s stock valued at $10,932,000 after buying an additional 115,006 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Corcept Therapeutics during the third quarter valued at approximately $1,960,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 0.2 %

NASDAQ CORT opened at $23.32 on Wednesday. The company’s fifty day simple moving average is $23.84 and its 200-day simple moving average is $25.26. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $34.28. The stock has a market cap of $2.43 billion, a P/E ratio of 24.55 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The business had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. During the same period in the previous year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, research analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at $176,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at $176,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $25.30, for a total transaction of $55,660.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,783 shares of company stock valued at $2,118,996. Corporate insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

CORT has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $39.30.

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.