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

Vanguard Group Inc. grew its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,537,532 shares of the biotechnology company’s stock after purchasing an additional 239,887 shares during the period. Vanguard Group Inc. owned about 9.21% of Corcept Therapeutics worth $309,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORT. FNY Investment Advisers LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth $32,000. Gladius Capital Management LP purchased a new stake in Corcept Therapeutics in the fourth quarter worth $36,000. Planned Solutions Inc. purchased a new stake in Corcept Therapeutics in the fourth quarter worth $45,000. Headlands Technologies LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter worth $47,000. Finally, Quadrant Capital Group LLC grew its position in shares of Corcept Therapeutics by 27.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after buying an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $25.30, for a total value of $55,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $25.30, for a total value of $55,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Douglas Lyon sold 10,830 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $26.00, for a total value of $281,580.00. Following the completion of the sale, the insider now directly owns 7,314 shares of the company’s stock, valued at approximately $190,164. 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. 20.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CORT shares. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Corcept Therapeutics in a research report on Wednesday, May 29th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, 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. Five equities research 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 target price of $44.30.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $32.49 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $35.22. The stock’s 50-day moving average is $28.37 and its 200 day moving average is $26.13. 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 (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 0.95 EPS for the current 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.