Massar Capital Management LP Purchases New Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Massar Capital Management LP acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 29,192 shares of the biotechnology company’s stock, valued at approximately $1,471,000. Corcept Therapeutics makes up approximately 1.7% of Massar Capital Management LP’s investment portfolio, making the stock its 21st biggest position.

Other institutional investors have also recently bought and sold shares of the company. MML Investors Services LLC acquired a new stake in Corcept Therapeutics during the third quarter worth about $317,000. World Investment Advisors LLC bought a new position in Corcept Therapeutics in the third quarter valued at approximately $503,000. Franklin Resources Inc. raised its position in Corcept Therapeutics by 1.0% during the third quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company’s stock valued at $10,998,000 after purchasing an additional 2,475 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Corcept Therapeutics by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after purchasing an additional 76,573 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 20.3% in the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 100,000 shares of the business’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 transaction, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. The trade was a 53.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,124 shares of company stock valued at $15,117,614. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Up 1.1 %

Shares of CORT opened at $62.90 on Tuesday. The company has a market capitalization of $6.64 billion, a PE ratio of 49.92 and a beta of 0.15. The stock’s 50-day moving average price is $65.29 and its two-hundred day moving average price is $58.60. 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 Incorporated has a 12 month low of $20.84 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright upped their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research report 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. Truist Financial raised their target price on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Piper Sandler upped their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. Finally, Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price 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.