Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,856 shares of the biotechnology company’s stock after buying an additional 4,356 shares during the period. Teacher Retirement System of Texas’ holdings in Corcept Therapeutics were worth $1,404,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CORT. Intech Investment Management LLC boosted its position in shares of Corcept Therapeutics by 42.7% during the 3rd quarter. Intech Investment Management LLC now owns 20,532 shares of the biotechnology company’s stock valued at $950,000 after acquiring an additional 6,140 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Corcept Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock valued at $47,506,000 after purchasing an additional 53,191 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Corcept Therapeutics by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company’s stock worth $2,360,000 after buying an additional 2,216 shares during the last quarter. FMR LLC increased its holdings in shares of Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after buying an additional 269,074 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,022 shares of company stock valued at $2,703,257 in the last ninety days. Company insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Piper Sandler raised their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group increased their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Price Performance

CORT stock opened at $54.63 on Friday. The business’s fifty day moving average price is $61.89 and its 200 day moving average price is $54.47. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00. The company has a market capitalization of $5.76 billion, a PE ratio of 43.36 and a beta of 0.61. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly 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). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.