Arizona State Retirement System Acquires 2,001 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Arizona State Retirement System boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,081 shares of the biotechnology company’s stock after purchasing an additional 2,001 shares during the quarter. Arizona State Retirement System’s holdings in Corcept Therapeutics were worth $847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Corcept Therapeutics by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 900,444 shares of the biotechnology company’s stock worth $29,246,000 after acquiring an additional 39,111 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth approximately $228,000. Quadrant Capital Group LLC grew its position in Corcept Therapeutics by 27.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 448 shares during the period. Verity Asset Management Inc. bought a new position in Corcept Therapeutics in the 4th quarter worth $234,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Corcept Therapeutics by 38.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 28,230 shares of the biotechnology company’s stock valued at $917,000 after acquiring an additional 7,768 shares during the period. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a research report on Monday, June 17th. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, HC Wainwright raised their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $46.50.

Corcept Therapeutics Stock Up 6.7 %

Shares of NASDAQ:CORT opened at $38.11 on Friday. The business’s 50 day moving average is $34.36 and its 200 day moving average is $29.40. The stock has a market cap of $3.98 billion, a P/E ratio of 35.95 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $39.75.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.81, for a total value of $72,182.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.81, for a total value of $72,182.00. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock worth $1,090,844 in the last three months. 20.50% of the stock is owned by 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.