Voya Investment Management LLC Grows Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Voya Investment Management LLC lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 222,750 shares of the biotechnology company’s stock after buying an additional 3,148 shares during the quarter. Voya Investment Management LLC’s holdings in Corcept Therapeutics were worth $11,224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Black Diamond Financial LLC raised its stake in Corcept Therapeutics by 4.0% during the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 200 shares during the period. Quadrant Capital Group LLC increased its position in shares of Corcept Therapeutics by 9.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 257 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Corcept Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 268 shares in the last quarter. Arizona State Retirement System grew its holdings in Corcept Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock valued at $1,374,000 after purchasing an additional 289 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in Corcept Therapeutics by 0.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock worth $2,395,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

CORT opened at $70.95 on Tuesday. The business has a fifty day simple moving average of $64.96 and a 200-day simple moving average of $59.45. The firm has a market cap of $7.49 billion, a PE ratio of 56.31 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $22.60 and a fifty-two week high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (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 analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group raised their price objective 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 increased their price objective 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 objective on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 31st. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Piper Sandler increased their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $143.25.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,124 shares of company stock worth $15,117,614. Corporate insiders own 20.50% of the company’s stock.

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.