New York State Teachers Retirement System Sells 17,222 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

New York State Teachers Retirement System decreased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 124,443 shares of the biotechnology company's stock after selling 17,222 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Corcept Therapeutics worth $5,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CORT. Vanguard Group Inc. boosted its holdings in 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 worth $86,952,000 after purchasing an additional 108,658 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Corcept Therapeutics by 1,149.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company's stock valued at $18,753,000 after purchasing an additional 684,863 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Corcept Therapeutics during the 1st quarter valued at $18,426,000. Finally, abrdn plc raised its stake in shares of Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock worth $30,867,000 after purchasing an additional 142,310 shares during the period. Institutional investors own 93.61% of the company's stock.

Insider Buying and Selling

In other news, insider William Guyer sold 6,606 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the transaction, the insider now directly owns 5,796 shares of the company's stock, valued at approximately $283,830.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Guyer sold 6,606 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the transaction, the insider now owns 5,796 shares of the company's stock, valued at approximately $283,830.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,101 shares of company stock valued at $1,462,517 over the last ninety days. 20.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CORT. Canaccord Genuity Group reissued a "buy" rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com raised shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Finally, Piper Sandler raised their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $65.25.

Corcept Therapeutics Trading Up 4.0 %

Shares of Corcept Therapeutics stock traded up $2.09 during trading on Wednesday, reaching $54.23. The company's stock had a trading volume of 976,931 shares, compared to its average volume of 1,190,054. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $54.88. The firm's 50-day moving average is $43.05 and its two-hundred day moving average is $35.12. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 41.38 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $182.55 million during the quarter, compared to analysts' expectations of $171.97 million. During the same period in the prior year, the business posted $0.28 EPS. Corcept Therapeutics's quarterly revenue was up 47.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.25 earnings per share 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.