SG Americas Securities LLC Increases Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

SG Americas Securities LLC raised its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 285.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,109 shares of the biotechnology company's stock after purchasing an additional 31,922 shares during the quarter. SG Americas Securities LLC's holdings in Corcept Therapeutics were worth $4,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after purchasing an additional 109,294 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after purchasing an additional 142,784 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock valued at $82,889,000 after purchasing an additional 64,321 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock valued at $69,381,000 after purchasing an additional 153,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Corcept Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock valued at $52,988,000 after purchasing an additional 25,073 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $70.61, for a total transaction of $155,342.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $72.42, for a total transaction of $1,448,400.00. Following the sale, the insider now owns 5,487 shares in the company, valued at approximately $397,368.54. This trade represents a 78.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 362,325 shares of company stock worth $30,509,238 in the last ninety days. 20.80% of the stock is owned by corporate insiders.

Corcept Therapeutics Stock Down 1.6%

Corcept Therapeutics stock traded down $1.12 during mid-day trading on Friday, reaching $70.06. 1,008,383 shares of the company's stock were exchanged, compared to its average volume of 1,140,717. The company has a market cap of $7.43 billion, a P/E ratio of 55.60 and a beta of 0.19. Corcept Therapeutics Incorporated has a twelve month low of $28.04 and a twelve month high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $71.48 and a 200-day moving average of $64.34.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CORT shares. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler raised their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research note on Tuesday, May 6th. HC Wainwright dropped their price objective on 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, Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

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.