Westover Capital Advisors LLC Boosts Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Westover Capital Advisors LLC increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,587 shares of the biotechnology company’s stock after acquiring an additional 456 shares during the period. Westover Capital Advisors LLC’s holdings in Corcept Therapeutics were worth $785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth approximately $14,935,000. FMR LLC raised its holdings in Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares in the last quarter. Synergy Asset Management LLC lifted its stake in Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after acquiring an additional 262,503 shares during the last quarter. Finally, M&G PLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $11,173,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 85,318 shares of the company’s stock, valued at $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’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. Over the last ninety days, insiders have sold 26,600 shares of company stock worth $1,399,576. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $59.07 on Tuesday. The company has a fifty day moving average of $59.96 and a two-hundred day moving average of $51.65. 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 1 year low of $20.84 and a 1 year high of $75.00. The company has a market capitalization of $6.23 billion, a PE ratio of 46.88 and a beta of 0.58.

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

Analysts Set New Price Targets

CORT has been the topic of a number of analyst reports. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Piper Sandler upped their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, 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. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.