denkapparat Operations GmbH Invests $302,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

denkapparat Operations GmbH purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,996 shares of the biotechnology company’s stock, valued at approximately $302,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $27,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics during the 4th quarter worth approximately $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth about $58,000. Principal Securities Inc. boosted its stake in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $69,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the sale, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,022 shares of company stock valued at $2,703,257 in the last 90 days. 20.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CORT. 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. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Canaccord Genuity Group upped 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. Finally, HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.75.

Corcept Therapeutics Stock Down 0.8 %

Shares of CORT opened at $56.68 on Friday. The company has a 50-day moving average price of $61.91 and a two-hundred day moving average price of $54.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 44.98 and a beta of 0.61. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last announced 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). The business had revenue of $181.89 million for 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%. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.