Twin Tree Management LP bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,072 shares of the biotechnology company's stock, valued at approximately $306,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC bought a new stake in shares of Corcept Therapeutics in the fourth quarter worth $205,000. Natixis Advisors LLC grew its stake in shares of Corcept Therapeutics by 14.1% in the fourth quarter. Natixis Advisors LLC now owns 32,123 shares of the biotechnology company's stock worth $1,619,000 after purchasing an additional 3,979 shares during the last quarter. Balboa Wealth Partners bought a new stake in shares of Corcept Therapeutics in the fourth quarter worth $201,000. Swiss National Bank grew its stake in shares of Corcept Therapeutics by 0.9% in the fourth quarter. Swiss National Bank now owns 184,965 shares of the biotechnology company's stock worth $9,320,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Corcept Therapeutics in the fourth quarter worth $293,000. Institutional investors own 93.61% of the company's stock.
Corcept Therapeutics Stock Up 1.9 %
Shares of NASDAQ CORT traded up $1.07 during trading on Friday, hitting $58.66. 1,943,513 shares of the company traded hands, compared to its average volume of 971,942. The business's fifty day moving average is $61.49 and its 200 day moving average is $53.81. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 46.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.
Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share 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 business had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.
Insider Buying and Selling at Corcept Therapeutics
In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company's stock, valued at $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,627 shares of company stock worth $2,557,674. Insiders own 20.50% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CORT. StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. HC Wainwright restated a "buy" rating and issued a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday, February 27th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, Piper Sandler upped their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.75.
Check Out Our Latest Stock Report on CORT
Corcept Therapeutics Profile
(
Free Report)
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.
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