Corcept Therapeutics Incorporated (NASDAQ:CORT) Holdings Reduced by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 16.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 949,143 shares of the biotechnology company’s stock after selling 183,941 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.91% of Corcept Therapeutics worth $30,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in Corcept Therapeutics by 199.0% in the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after acquiring an additional 140,815 shares during the period. Quantedge Capital Pte Ltd acquired a new position in shares of Corcept Therapeutics during the fourth quarter valued at $8,066,000. Oak Ridge Investments LLC bought a new stake in shares of Corcept Therapeutics during the second quarter valued at about $984,000. Norges Bank acquired a new stake in Corcept Therapeutics in the fourth quarter worth about $24,603,000. Finally, State Board of Administration of Florida Retirement System grew its position in Corcept Therapeutics by 190.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after buying an additional 43,809 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

CORT stock opened at $43.93 on Friday. The firm has a market cap of $4.57 billion, a PE ratio of 41.44 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $44.37. The firm has a 50 day simple moving average of $36.39 and a 200 day simple moving average of $30.68.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company 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 quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and set a $65.00 price target on shares of Corcept Therapeutics in a research report on Monday, June 17th. Finally, HC Wainwright upped their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and an average target price of $53.75.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the transaction, the insider now owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.49, for a total transaction of $162,450.00. Following the sale, the insider now directly owns 9,290 shares in the company, valued at $301,832.10. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock worth $1,090,844 in the last quarter. 20.50% of the stock is owned by company 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.