Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 51.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,987 shares of the biotechnology company’s stock after selling 61,554 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Corcept Therapeutics worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Place Capital Corp purchased a new stake in Corcept Therapeutics during the second quarter worth about $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $35,000. GAMMA Investing LLC boosted its position in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares during the period. FinTrust Capital Advisors LLC increased its position in shares of 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 acquiring an additional 1,348 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CORT. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Corcept Therapeutics in a research report on Monday, June 17th. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, HC Wainwright raised their price target 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $53.75.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $42.25 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $43.74. The firm has a market capitalization of $4.40 billion, a P/E ratio of 39.86 and a beta of 0.45. The company’s fifty day moving average price is $35.38 and its 200 day moving average price is $30.04.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results 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 business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 EPS for the current year.

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.