Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,460 shares of the biotechnology company’s stock after acquiring an additional 2,608 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Corcept Therapeutics worth $1,321,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Duality Advisers LP boosted its stake in shares of Corcept Therapeutics by 653.1% during the first quarter. Duality Advisers LP now owns 89,188 shares of the biotechnology company’s stock valued at $2,247,000 after acquiring an additional 77,346 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Corcept Therapeutics by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 79,390 shares of the biotechnology company’s stock worth $2,000,000 after buying an additional 1,435 shares during the period. FinTrust Capital Advisors LLC lifted its position in Corcept Therapeutics by 318.7% during 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. Hussman Strategic Advisors Inc. lifted its position in Corcept Therapeutics by 60.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the biotechnology company’s stock worth $2,116,000 after buying an additional 31,500 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $706,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Corcept Therapeutics in a research note on Wednesday, May 29th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $65.00 price target on shares of Corcept Therapeutics in a research report on Monday, June 17th. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 price objective on shares of Corcept Therapeutics in a report on Monday, July 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $45.10.

Corcept Therapeutics Stock Up 1.1 %

CORT stock opened at $31.50 on Monday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $35.22. The stock’s 50 day moving average is $29.87 and its two-hundred day moving average is $26.05. The company has a market capitalization of $3.28 billion, a PE ratio of 29.72 and a beta of 0.44.

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

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total value of $66,462.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total value of $66,462.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $28.00, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 93,457 shares of company stock worth $2,655,766. 20.50% of the stock is currently 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.