Twin Tree Management LP Invests $306,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Twin Tree Management LP purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,072 shares of the biotechnology company’s stock, valued at approximately $306,000.

Several other institutional investors also recently modified their holdings of CORT. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $27,000. USA Financial Formulas acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $58,000. Principal Securities Inc. grew its holdings in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Corcept Therapeutics by 311.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 1,795 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $58.00 on Thursday. The company’s fifty day simple moving average is $61.20 and its 200-day simple moving average is $53.48. 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 cap of $6.12 billion, a PE ratio of 46.03 and a beta of 0.61. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $75.00.

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

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the sale, the chief executive officer now directly owns 3,019,411 shares of the company’s stock, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,627 shares of company stock valued at $2,557,674 over the last 90 days. 20.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Piper Sandler lifted their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $99.75.

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.