Synergy Asset Management LLC Boosts Stake in Corcept Therapeutics Incorporated $CORT

Synergy Asset Management LLC lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 51.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 258,494 shares of the biotechnology company’s stock after purchasing an additional 87,743 shares during the period. Corcept Therapeutics accounts for 2.2% of Synergy Asset Management LLC’s portfolio, making the stock its 17th biggest position. Synergy Asset Management LLC’s holdings in Corcept Therapeutics were worth $18,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of CORT. Public Employees Retirement System of Ohio boosted its stake in shares of Corcept Therapeutics by 269.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 2,086 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Corcept Therapeutics by 50.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,724 shares of the biotechnology company’s stock worth $389,000 after acquiring an additional 2,578 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Corcept Therapeutics by 0.3% during the 1st quarter. Rhumbline Advisers now owns 201,401 shares of the biotechnology company’s stock worth $23,004,000 after acquiring an additional 565 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth about $297,000. Finally, Eagle Rock Investment Company LLC acquired a new position in shares of Corcept Therapeutics during the 1st quarter worth about $343,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $70.53, for a total transaction of $2,821,200.00. Following the completion of the sale, the chief executive officer directly owned 2,821,370 shares of the company’s stock, valued at approximately $198,991,226.10. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $70.25, for a total transaction of $351,250.00. Following the sale, the insider owned 10,066 shares in the company, valued at $707,136.50. This represents a 33.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,810 shares of company stock worth $15,542,942. 20.80% of the stock is currently owned by company insiders.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $85.48 on Friday. The stock has a market capitalization of $9.01 billion, a P/E ratio of 75.65 and a beta of 0.46. The company has a 50 day moving average price of $73.42 and a 200 day moving average price of $71.91. Corcept Therapeutics Incorporated has a fifty-two week low of $42.01 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The firm had revenue of $194.43 million during the quarter, compared to analysts’ expectations of $199.40 million. During the same quarter last year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. Corcept Therapeutics has set its FY 2025 guidance at EPS. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CORT shares. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Canaccord Genuity Group restated a “buy” rating and set a $140.00 price target on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Finally, Piper Sandler reduced their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $135.25.

Corcept Therapeutics Company 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.