Vanguard Group Inc. Buys 109,294 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Vanguard Group Inc. raised its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,115,624 shares of the biotechnology company’s stock after buying an additional 109,294 shares during the quarter. Vanguard Group Inc. owned about 9.65% of Corcept Therapeutics worth $509,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock worth $192,975,000 after acquiring an additional 15,908 shares during the last quarter. State Street Corp boosted its position in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after purchasing an additional 19,893 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after buying an additional 99,470 shares during the period. FMR LLC grew its holdings in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after buying an additional 269,074 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Corcept Therapeutics by 40.5% in 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 in the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Trading Down 19.5 %

NASDAQ:CORT opened at $91.93 on Wednesday. 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 Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. The company has a market cap of $9.70 billion, a P/E ratio of 72.96 and a beta of 0.61. The business has a 50 day moving average price of $63.69 and a two-hundred day moving average price of $55.67.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CORT. HC Wainwright boosted their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial boosted their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler upped their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Insider Activity at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 1,974 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $60.83, for a total transaction of $120,078.42. Following the transaction, the chief executive officer now directly owns 3,017,437 shares in the company, valued at approximately $183,550,692.71. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,022 shares of company stock valued at $2,703,257. 20.50% of the stock is owned by 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.