Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Xponance Inc.

Xponance Inc. increased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,430 shares of the biotechnology company’s stock after acquiring an additional 1,304 shares during the period. Xponance Inc.’s holdings in Corcept Therapeutics were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CORT. Synergy Asset Management LLC grew its stake in shares of Corcept Therapeutics by 131.3% during the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after purchasing an additional 262,503 shares during the period. Van ECK Associates Corp acquired a new stake in Corcept Therapeutics during the fourth quarter valued at $4,483,000. State Street Corp grew its position in Corcept Therapeutics by 0.6% during the third 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 during the period. Burney Co. raised its position in shares of Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after acquiring an additional 39,657 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Corcept Therapeutics by 43.4% during the 3rd 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 in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the 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 owns 85,318 shares in the company, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 1,974 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.83, for a total transaction of $120,078.42. Following the completion of the transaction, the chief executive officer now directly owns 3,017,437 shares in the company, valued at $183,550,692.71. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,022 shares of company stock worth $2,703,257 over the last three months. Insiders own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CORT. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler boosted their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $57.11 on Thursday. The firm has a market cap of $6.03 billion, a P/E ratio of 45.33 and a beta of 0.61. The stock has a 50 day moving average of $61.86 and a two-hundred day moving average of $54.31. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

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

Corcept Therapeutics 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.