Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,115,624 shares of the biotechnology company's stock after acquiring an additional 109,294 shares during the period. Vanguard Group Inc. owned about 9.65% of Corcept Therapeutics worth $509,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CORT. The Manufacturers Life Insurance Company boosted its stake in shares of Corcept Therapeutics by 4.5% during the third quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company's stock valued at $2,360,000 after purchasing an additional 2,216 shares in the last quarter. FMR LLC boosted its position in Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company's stock valued at $63,122,000 after acquiring an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company's stock valued at $56,637,000 after acquiring an additional 352,947 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Corcept Therapeutics by 30.0% in the 3rd quarter. Stifel Financial Corp now owns 88,967 shares of the biotechnology company's stock valued at $4,117,000 after acquiring an additional 20,546 shares during the period. Finally, State Street Corp raised its position in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after acquiring an additional 19,893 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

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Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the transaction, the chief executive officer now directly owns 3,019,411 shares of the company's stock, valued at approximately $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,124 shares of company stock valued at $15,074,318. Company insiders own 20.50% of the company's stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded down $4.92 on Friday, reaching $74.45. 2,540,279 shares of the stock were exchanged, compared to its average volume of 1,099,324. The business has a 50 day moving average price of $64.81 and a two-hundred day moving average price of $56.50. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. 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 (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

About Corcept Therapeutics

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.