Illinois Municipal Retirement Fund Reduces Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Illinois Municipal Retirement Fund trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,852 shares of the biotechnology company’s stock after selling 3,724 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Corcept Therapeutics were worth $1,619,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp boosted its holdings in Corcept Therapeutics by 1.1% in the fourth quarter. Boston Trust Walden Corp now owns 1,846,924 shares of the biotechnology company’s stock valued at $59,988,000 after purchasing an additional 19,877 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Corcept Therapeutics by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 861,333 shares of the biotechnology company’s stock valued at $23,467,000 after buying an additional 17,636 shares in the last quarter. FMR LLC grew its position in shares of Corcept Therapeutics by 102.4% in the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock valued at $18,634,000 after buying an additional 346,000 shares during the last quarter. Burney Co. raised its stake in Corcept Therapeutics by 40.2% during the 3rd quarter. Burney Co. now owns 401,263 shares of the biotechnology company’s stock worth $10,932,000 after acquiring an additional 115,006 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Corcept Therapeutics by 996.5% in the third quarter. Acadian Asset Management LLC now owns 318,027 shares of the biotechnology company’s stock valued at $8,653,000 after acquiring an additional 289,023 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $22.80 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $34.28. The firm has a 50-day simple moving average of $23.81 and a 200-day simple moving average of $25.38. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 24.00 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

CORT has been the topic of several research reports. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday. Finally, Truist Financial boosted their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $39.30.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 over the last three months. 19.80% of the stock is currently owned by company insiders.

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.