State Street Corp Has $162.87 Million Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

State Street Corp grew its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,519,263 shares of the biotechnology company's stock after purchasing an additional 19,893 shares during the period. State Street Corp owned about 3.36% of Corcept Therapeutics worth $162,871,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. M&G PLC bought a new stake in shares of Corcept Therapeutics in the third quarter valued at approximately $11,173,000. Empowered Funds LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at $1,784,000. Victory Capital Management Inc. grew its holdings in shares of Corcept Therapeutics by 49.2% during the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company's stock worth $1,936,000 after purchasing an additional 13,787 shares in the last quarter. Milestone Asset Management LLC increased its position in shares of Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company's stock worth $1,676,000 after purchasing an additional 16,593 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Corcept Therapeutics by 20.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company's stock valued at $39,781,000 after purchasing an additional 143,507 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Insider Activity

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Guyer sold 3,394 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the sale, the insider now directly owns 5,796 shares of the company's stock, valued at approximately $283,830.12. The trade was a 36.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,811 shares of company stock valued at $1,341,360 over the last quarter. 20.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CORT. Truist Financial increased their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Piper Sandler boosted 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, September 18th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, StockNews.com cut Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $65.25.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded down $0.93 during midday trading on Friday, reaching $55.40. 1,167,829 shares of the company were exchanged, compared to its average volume of 1,157,240. The stock's 50-day moving average price is $53.06 and its 200-day moving average price is $41.15. The stock has a market cap of $5.80 billion, a P/E ratio of 43.97 and a beta of 0.51. 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 one year low of $20.84 and a one year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Corcept Therapeutics's quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share 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.