Headlands Technologies LLC Sells 6,041 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Headlands Technologies LLC cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 84.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,117 shares of the biotechnology company's stock after selling 6,041 shares during the period. Headlands Technologies LLC's holdings in Corcept Therapeutics were worth $56,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CORT. Synergy Asset Management LLC grew its position in shares of Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after buying an additional 262,503 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $4,483,000. State Street Corp increased its position in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after buying an additional 19,893 shares in the last quarter. Burney Co. raised its stake in Corcept Therapeutics by 9.1% during the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock valued at $23,876,000 after buying an additional 39,657 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock worth $11,712,000 after acquiring an additional 76,573 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $545,765.22. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,924 shares of company stock valued at $14,963,130. Insiders own 20.50% of the company's stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock traded up $0.89 during midday trading on Friday, reaching $68.62. 1,108,760 shares of the company traded hands, compared to its average volume of 1,119,457. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The business has a 50 day moving average of $65.72 and a two-hundred day moving average of $57.69. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 54.46 and a beta of 0.15.

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

Analyst Ratings Changes

Several research firms have recently issued reports on CORT. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. HC Wainwright upped their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Truist Financial raised their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Piper Sandler lifted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $143.25.

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.