Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 79.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 75,029 shares of the biotechnology company’s stock after acquiring an additional 33,206 shares during the period. Victory Capital Management Inc.’s holdings in Corcept Therapeutics were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its holdings in Corcept Therapeutics by 23.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,774 shares of the biotechnology company’s stock worth $1,147,000 after acquiring an additional 4,774 shares in the last quarter. KBC Group NV boosted its stake in Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Corcept Therapeutics during the third quarter worth $241,000. Royce & Associates LP raised its position in shares of Corcept Therapeutics by 3.7% in the third quarter. Royce & Associates LP now owns 363,272 shares of the biotechnology company’s stock valued at $16,812,000 after buying an additional 13,000 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Corcept Therapeutics during the third quarter worth about $1,784,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $56.01 on Friday. 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 company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 44.45 and a beta of 0.61. The company’s 50 day simple moving average is $60.84 and its 200-day simple moving average is $53.01. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CORT. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Piper Sandler increased 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. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $115.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.75.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 18,303 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the sale, the chief executive officer now owns 3,019,411 shares in the company, valued at $183,912,324.01. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,627 shares of company stock worth $2,557,674 in the last ninety days. 20.50% of the stock is owned by corporate insiders.

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.