Franklin Resources Inc. Has $13.81 Million Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Franklin Resources Inc. raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 273,974 shares of the biotechnology company's stock after acquiring an additional 31,183 shares during the period. Franklin Resources Inc. owned about 0.26% of Corcept Therapeutics worth $13,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $27,000. USA Financial Formulas bought a new position in Corcept Therapeutics in the fourth quarter valued at approximately $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $58,000. Principal Securities Inc. increased its position in shares of Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 483 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $69,000. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CORT. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. HC Wainwright increased their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 31st. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Truist Financial raised their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Finally, Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $143.25.

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Insider Activity

In related news, insider Sean Maduck sold 100,000 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at approximately $8,608,435.88. This trade represents a 53.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,924 shares of company stock valued at $14,963,130. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock traded up $0.89 during mid-day trading on Friday, hitting $68.62. 1,108,760 shares of the company's stock traded hands, compared to its average volume of 1,119,457. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $117.33. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 54.46 and a beta of 0.15. The firm has a 50 day simple moving average of $65.72 and a two-hundred day simple moving average of $57.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal 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.