Centiva Capital LP Makes New $273,000 Investment in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Centiva Capital LP acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,419 shares of the biotechnology company's stock, valued at approximately $273,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new position in shares of Corcept Therapeutics in the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board bought a new position in Corcept Therapeutics during the fourth quarter worth $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics in the fourth quarter valued at $42,000. USA Financial Formulas bought a new stake in Corcept Therapeutics during the fourth quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter worth about $58,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Up 2.3%

Shares of NASDAQ:CORT traded up $1.72 during trading on Friday, reaching $75.08. 1,129,303 shares of the stock were exchanged, compared to its average volume of 1,123,438. Corcept Therapeutics Incorporated has a 1-year low of $27.30 and a 1-year high of $117.33. The stock has a fifty day moving average of $68.17 and a two-hundred day moving average of $61.44. 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 firm has a market cap of $7.96 billion, a price-to-earnings ratio of 59.59 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $72.06, for a total transaction of $158,532.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the sale, the insider now directly owns 85,622 shares of the company's stock, valued at $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. Insiders have sold 236,738 shares of company stock worth $20,484,994 in the last quarter. Insiders own 20.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CORT. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday, May 6th. Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Piper Sandler raised their price target 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. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.25.

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.