Pallas Capital Advisors LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Pallas Capital Advisors LLC acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,014 shares of the biotechnology company's stock, valued at approximately $458,000.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Corcept Therapeutics by 6.5% during the fourth quarter. Empowered Funds LLC now owns 41,048 shares of the biotechnology company's stock worth $2,068,000 after buying an additional 2,507 shares in the last quarter. Certuity LLC acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at about $204,000. Van ECK Associates Corp acquired a new stake in Corcept Therapeutics during the fourth quarter worth about $4,483,000. New York State Teachers Retirement System increased its position in Corcept Therapeutics by 3.0% during the fourth quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company's stock worth $6,462,000 after purchasing an additional 3,789 shares during the last quarter. Finally, Roman Butler Fullerton & Co. increased its position in Corcept Therapeutics by 376.1% during the fourth quarter. Roman Butler Fullerton & Co. now owns 26,497 shares of the biotechnology company's stock worth $1,335,000 after purchasing an additional 20,932 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CORT. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. HC Wainwright reduced their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.25.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 421 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the transaction, the insider now directly owns 9,009 shares in the company, valued at approximately $545,765.22. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the sale, the insider now owns 85,622 shares of the company's stock, 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 three months, insiders have sold 362,325 shares of company stock valued at $30,509,238. Insiders own 20.80% of the company's stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded up $0.84 during trading on Monday, reaching $70.90. The company's stock had a trading volume of 806,952 shares, compared to its average volume of 1,139,382. The company has a 50-day moving average price of $71.49 and a two-hundred day moving average price of $64.48. The firm has a market cap of $7.52 billion, a PE ratio of 56.27 and a beta of 0.19. Corcept Therapeutics Incorporated has a fifty-two week low of $28.04 and a fifty-two week 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.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. The company had revenue of $157.21 million during 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%. Corcept Therapeutics's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current 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.