Marcum Wealth LLC Has $473,000 Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Marcum Wealth LLC reduced its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,379 shares of the biotechnology company’s stock after selling 621 shares during the period. Marcum Wealth LLC’s holdings in Corcept Therapeutics were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CORT. 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. bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $36,000. GAMMA Investing LLC lifted its stake in shares of Corcept Therapeutics by 85.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,147 shares during the last quarter. KBC Group NV boosted 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 worth $131,000 after purchasing an additional 496 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Corcept Therapeutics in the second quarter worth $205,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $51.66 on Wednesday. The company’s fifty day moving average is $54.90 and its two-hundred day moving average is $44.47. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 41.00 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CORT. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Truist Financial upped their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $65.25.

Insider Activity

In related news, insider Sean Maduck sold 20,000 shares of the company’s 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 sale, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Guyer sold 6,606 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the completion of the transaction, the insider now directly owns 5,796 shares of the company’s stock, valued at $283,830.12. This trade represents a 53.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,011 shares of company stock worth $1,951,268. Company insiders own 20.50% of the company’s stock.

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.