Synergy Asset Management LLC Increases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Synergy Asset Management LLC lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 131.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 462,411 shares of the biotechnology company’s stock after purchasing an additional 262,503 shares during the period. Corcept Therapeutics comprises about 1.7% of Synergy Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Synergy Asset Management LLC owned 0.44% of Corcept Therapeutics worth $22,369,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CORT. State Street Corp boosted its position in Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after buying an additional 19,893 shares during the period. Geode Capital Management LLC boosted its holdings in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after acquiring an additional 99,470 shares during the period. FMR LLC boosted its holdings in Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after acquiring an additional 352,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Corcept Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock worth $47,506,000 after purchasing an additional 53,191 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

CORT opened at $61.53 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a market capitalization of $6.45 billion, a PE ratio of 48.83 and a beta of 0.56. The stock’s 50 day moving average price is $55.55 and its 200-day moving average price is $46.50. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $62.98.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same period in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Insider Activity

In other news, insider William Guyer sold 3,394 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. This trade represents a 36.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,011 shares of company stock valued at $1,951,268. Corporate insiders own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CORT shares. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $65.25.

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.