Caxton Associates LP Makes New $536,000 Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Caxton Associates LP acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,632 shares of the biotechnology company's stock, valued at approximately $536,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Corcept Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after acquiring an additional 109,294 shares in the last quarter. Parallel Advisors LLC grew its holdings in Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after buying an additional 15,908 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Corcept Therapeutics by 4.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after purchasing an additional 64,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Corcept Therapeutics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock valued at $52,988,000 after buying an additional 25,073 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Corcept Therapeutics by 10.2% during the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company's stock worth $51,172,000 after purchasing an additional 94,128 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a report on Tuesday. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday. StockNews.com raised Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $138.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the completion of the sale, the insider now directly owns 9,009 shares of the company's stock, valued at approximately $545,765.22. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction that occurred 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 transaction, the insider now owns 85,622 shares in the company, valued at approximately $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,738 shares of company stock valued at $20,476,238. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT traded down $1.15 during midday trading on Friday, reaching $70.23. 953,391 shares of the company traded hands, compared to its average volume of 1,125,124. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 55.74 and a beta of 0.22. The company has a fifty day moving average price of $66.86 and a 200 day moving average price of $60.78. 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 twelve month low of $26.53 and a twelve month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. During the same quarter last year, the business earned $0.25 earnings per share. Corcept Therapeutics's revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

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.