Syon Capital LLC Grows Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Syon Capital LLC raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 11.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,848 shares of the biotechnology company’s stock after acquiring an additional 717 shares during the period. Syon Capital LLC’s holdings in Corcept Therapeutics were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth approximately $27,000. Canada Pension Plan Investment Board purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth $40,000. National Bank of Canada FI bought a new stake in shares of Corcept Therapeutics in the fourth quarter worth $42,000. USA Financial Formulas purchased a new stake in Corcept Therapeutics during the fourth quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Corcept Therapeutics in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the sale, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction on Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now directly owns 85,622 shares in the company, valued at $8,608,435.88. This represents a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock valued at $15,117,614 over the last 90 days. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Down 0.1 %

Shares of CORT opened at $71.71 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $22.28 and a twelve month high of $117.33. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market cap of $7.57 billion, a P/E ratio of 56.91 and a beta of 0.15. The company’s fifty day simple moving average is $65.01 and its 200-day simple moving average is $59.08.

Corcept Therapeutics (NASDAQ:CORT) last issued 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 net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Corcept Therapeutics

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.