FAS Wealth Partners Inc. Has $15.58 Million Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

FAS Wealth Partners Inc. cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 309,207 shares of the biotechnology company’s stock after selling 6,542 shares during the quarter. Corcept Therapeutics accounts for about 1.3% of FAS Wealth Partners Inc.’s portfolio, making the stock its 17th biggest holding. FAS Wealth Partners Inc.’s holdings in Corcept Therapeutics were worth $15,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the fourth quarter worth $27,000. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $40,000. National Bank of Canada FI acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $42,000. USA Financial Formulas acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the fourth quarter valued at approximately $58,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $71.88 on Thursday. 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 has a market cap of $7.58 billion, a PE ratio of 57.05 and a beta of 0.15. Corcept Therapeutics Incorporated has a 1 year low of $22.60 and a 1 year high of $117.33. The stock’s fifty day moving average price is $65.28 and its two-hundred day moving average price is $59.63.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly 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). The firm had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the 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 $183,912,324.01. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,124 shares of company stock worth $15,117,614 over the last three months. 20.50% of the stock is owned by insiders.

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.