The Manufacturers Life Insurance Company Acquires 932 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

The Manufacturers Life Insurance Company raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,780 shares of the biotechnology company’s stock after acquiring an additional 932 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Corcept Therapeutics were worth $1,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Corcept Therapeutics by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock worth $240,962,000 after acquiring an additional 28,250 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Corcept Therapeutics by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company’s stock valued at $86,952,000 after buying an additional 108,658 shares in the last quarter. Norden Group LLC bought a new position in shares of Corcept Therapeutics in the first quarter valued at $50,081,000. Jupiter Asset Management Ltd. grew its stake in shares of Corcept Therapeutics by 1,149.0% in the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after buying an additional 684,863 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Corcept Therapeutics in the first quarter valued at $18,426,000. 93.61% of the stock is owned by institutional investors.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now directly owns 22,772 shares of the company’s stock, valued at $1,053,888.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,251 shares of company stock valued at $1,365,292. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $45.25 on Friday. The business has a fifty day simple moving average of $38.14 and a two-hundred day simple moving average of $32.02. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $47.71. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 42.69 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) 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 business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CORT shares. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Truist Financial raised their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. HC Wainwright raised their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler raised their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and an average target price of $56.50.

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.