Public Sector Pension Investment Board Acquires 15,661 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Public Sector Pension Investment Board raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,595 shares of the biotechnology company’s stock after buying an additional 15,661 shares during the period. Public Sector Pension Investment Board owned about 0.19% of Corcept Therapeutics worth $6,550,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Park Place Capital Corp bought a new stake in Corcept Therapeutics during the second quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new stake in Corcept Therapeutics in the second quarter worth about $35,000. FinTrust Capital Advisors LLC raised its stake in shares of Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,962 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CORT. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $53.75.

Insider Activity at Corcept Therapeutics

In related news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the sale, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.49, for a total value of $162,450.00. Following the completion of the transaction, the insider now owns 9,290 shares in the company, valued at $301,832.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the sale, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,451 shares of company stock valued at $1,090,844. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $44.00 on Wednesday. The stock has a market cap of $4.58 billion, a P/E ratio of 41.51 and a beta of 0.45. The firm’s 50 day moving average price is $35.80 and its 200-day moving average price is $30.37. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $44.34.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 39.1% on a year-over-year basis. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 1.1 EPS for the current year.

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.