Vanguard Group Inc. Buys 109,294 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Vanguard Group Inc. grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,115,624 shares of the biotechnology company’s stock after acquiring an additional 109,294 shares during the period. Vanguard Group Inc. owned 0.10% of Corcept Therapeutics worth $509,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Black Diamond Financial LLC raised its holdings in Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 200 shares during the period. Arizona State Retirement System increased its stake in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company’s stock worth $1,374,000 after purchasing an additional 289 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Corcept Therapeutics by 0.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company’s stock worth $2,395,000 after purchasing an additional 368 shares during the last quarter. Westover Capital Advisors LLC boosted its stake in Corcept Therapeutics by 3.0% in the 4th quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company’s stock valued at $785,000 after purchasing an additional 456 shares during the period. Finally, Principal Securities Inc. grew its holdings in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 483 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $91.93 on Wednesday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $117.33. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 72.96 and a beta of 0.61. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is $63.69 and its 200 day simple moving average is $55.67.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $200.12 million. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.54, for a total transaction of $111,188.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,022 shares of company stock valued at $2,703,257. 20.50% of the stock is currently owned by corporate insiders.

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.