Corcept Therapeutics Incorporated (NASDAQ:CORT) Holdings Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,488 shares of the biotechnology company’s stock after selling 3,401 shares during the period. Corebridge Financial Inc.’s holdings in Corcept Therapeutics were worth $2,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC increased its stake in shares of Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after acquiring an additional 262,503 shares during the period. Van ECK Associates Corp bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth $4,483,000. State Street Corp lifted its holdings in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after buying an additional 19,893 shares during the period. Burney Co. boosted its position in shares of Corcept Therapeutics by 9.1% during the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock valued at $23,876,000 after purchasing an additional 39,657 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Corcept Therapeutics by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after buying an additional 76,573 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider Sean Maduck sold 20,000 shares of the company’s 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders have sold 48,022 shares of company stock valued at $2,703,257 over the last three months. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Down 19.5 %

Shares of Corcept Therapeutics stock opened at $91.93 on Wednesday. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 72.96 and a beta of 0.61. The stock has a 50-day simple moving average of $63.69 and a 200-day simple moving average of $55.67. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) 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 analyst estimates of $200.12 million. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Corcept Therapeutics 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.