Massar Capital Management LP Invests $1.47 Million in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Massar Capital Management LP bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 29,192 shares of the biotechnology company's stock, valued at approximately $1,471,000. Corcept Therapeutics makes up about 1.7% of Massar Capital Management LP's investment portfolio, making the stock its 21st largest position.

Several other institutional investors also recently made changes to their positions in CORT. Kestra Investment Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $27,000. Canada Pension Plan Investment Board acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $42,000. USA Financial Formulas acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $58,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction on 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 sale, the insider now owns 85,622 shares of the company's stock, valued at $8,608,435.88. The trade was a 53.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the sale, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,124 shares of company stock worth $15,117,614. 20.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, HC Wainwright upped their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $143.25.

Corcept Therapeutics Trading Down 0.1 %

Shares of CORT stock traded down $0.08 during mid-day trading on Friday, reaching $71.71. The company's stock had a trading volume of 1,278,548 shares, compared to its average volume of 1,127,799. 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 firm has a market capitalization of $7.57 billion, a PE ratio of 56.91 and a beta of 0.15. The company's 50 day simple moving average is $65.01 and its 200-day simple moving average is $59.27. Corcept Therapeutics Incorporated has a 12-month low of $22.60 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal 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.