Tower Research Capital LLC TRC Boosts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Tower Research Capital LLC TRC boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 426.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,109 shares of the biotechnology company's stock after acquiring an additional 7,380 shares during the period. Tower Research Capital LLC TRC's holdings in Corcept Therapeutics were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new position in Corcept Therapeutics during the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board bought a new position in shares of Corcept Therapeutics in the 4th quarter worth $40,000. National Bank of Canada FI purchased a new stake in shares of Corcept Therapeutics during the 4th quarter worth $42,000. USA Financial Formulas bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock traded up $1.29 during trading hours on Friday, hitting $72.77. 1,231,617 shares of the stock traded hands, compared to its average volume of 1,118,568. Corcept Therapeutics Incorporated has a 1 year low of $23.02 and a 1 year high of $117.33. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 57.75 and a beta of 0.22. 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's 50 day moving average price is $65.70 and its 200-day moving average price is $59.99.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly 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). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $70.22, for a total value of $154,484.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 100,000 shares of the firm's 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 in the company, valued at approximately $8,608,435.88. This represents a 53.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock worth $15,117,614 over the last three months. Company insiders own 20.50% of the company's stock.

Analyst Ratings Changes

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

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.