Vanguard Group Inc. Grows Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Vanguard Group Inc. boosted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,537,532 shares of the biotechnology company’s stock after buying an additional 239,887 shares during the period. Vanguard Group Inc. owned 0.09% of Corcept Therapeutics worth $309,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Corcept Therapeutics by 9.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 500 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Corcept Therapeutics by 1.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock valued at $1,841,000 after buying an additional 555 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Corcept Therapeutics by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after buying an additional 641 shares during the last quarter. Finally, Meritage Portfolio Management grew its holdings in Corcept Therapeutics by 3.7% during the 4th quarter. Meritage Portfolio Management now owns 26,268 shares of the biotechnology company’s stock valued at $853,000 after buying an additional 949 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CORT. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Corcept Therapeutics in a report on Wednesday, May 29th. Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $44.30.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares of the company’s stock, valued at $2,386,216. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Corcept Therapeutics news, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares of the company’s stock, valued at $2,386,216. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $30.18, for a total value of $150,900.00. Following the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $220,736.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,400 shares of company stock valued at $2,631,317. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 1.3 %

Shares of NASDAQ:CORT opened at $32.49 on Friday. The company has a market cap of $3.38 billion, a P/E ratio of 30.65 and a beta of 0.46. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $35.22. The business has a fifty day simple moving average of $28.37 and a 200-day simple moving average of $26.13.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $146.80 million during the quarter, compared to the consensus estimate of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.95 earnings per share for the current fiscal 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.