Texas Permanent School Fund Corp Raises Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Texas Permanent School Fund Corp boosted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,287 shares of the biotechnology company’s stock after buying an additional 2,897 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Corcept Therapeutics worth $2,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Place Capital Corp purchased a new stake in Corcept Therapeutics in the 2nd quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new stake in Corcept Therapeutics during the second quarter worth about $35,000. GAMMA Investing LLC increased its stake in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the period. FinTrust Capital Advisors LLC increased its stake in Corcept Therapeutics by 318.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,348 shares during the period. Finally, Quadrant Capital Group LLC increased its stake 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 worth $68,000 after purchasing an additional 448 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider William Guyer sold 10,000 shares of the stock in a transaction that occurred 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 directly owns 6,039 shares of the company’s stock, valued at $233,528.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at $233,528.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was 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. Over the last ninety days, insiders sold 30,451 shares of company stock valued at $1,090,844. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Stock Up 0.9 %

Shares of CORT opened at $38.47 on Tuesday. The stock has a 50 day moving average price of $34.36 and a 200 day moving average price of $29.48. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 36.29 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 posted 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. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company’s revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.