Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Holdings Trimmed by Synergy Asset Management LLC

Synergy Asset Management LLC cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 63.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,751 shares of the biotechnology company's stock after selling 291,660 shares during the period. Corcept Therapeutics comprises about 2.5% of Synergy Asset Management LLC's holdings, making the stock its 10th largest holding. Synergy Asset Management LLC owned about 0.16% of Corcept Therapeutics worth $19,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CORT. Vanguard Group Inc. grew its position in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after buying an additional 109,294 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Corcept Therapeutics by 4.1% during the fourth 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. Jacobs Levy Equity Management Inc. raised its stake in Corcept Therapeutics by 12.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock valued at $69,381,000 after buying an additional 153,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Corcept Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock worth $52,988,000 after buying an additional 25,073 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $70.22, for a total transaction of $154,484.00. The transaction 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 dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the sale, the insider now directly 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. Insiders sold 359,930 shares of company stock worth $30,363,655 over the last 90 days. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Stock Down 3.6%

NASDAQ CORT traded down $2.78 during trading hours on Wednesday, hitting $73.99. 643,098 shares of the stock were exchanged, compared to its average volume of 1,135,321. Corcept Therapeutics Incorporated has a 12-month low of $29.42 and a 12-month high of $117.33. The stock has a 50-day moving average of $72.03 and a 200 day moving average of $65.04. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 63.78 and a beta of 0.19.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted 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 return on equity of 20.40% and a net margin of 19.33%. The business had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. During the same period last year, the firm earned $0.25 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CORT. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright cut 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, May 6th. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, 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 note on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.