Victory Capital Management Inc. Has $3.78 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Victory Capital Management Inc. boosted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 79.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,029 shares of the biotechnology company's stock after acquiring an additional 33,206 shares during the period. Victory Capital Management Inc. owned about 0.07% of Corcept Therapeutics worth $3,781,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. State Street Corp grew its position in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock worth $110,108,000 after acquiring an additional 99,470 shares in the last quarter. FMR LLC boosted its stake 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 during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company's stock worth $56,637,000 after purchasing an additional 352,947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Corcept Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock worth $52,988,000 after acquiring an additional 25,073 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CORT. HC Wainwright restated a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Piper Sandler upped their target price on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $99.75.

Insider Buying and Selling

In related news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Monday, February 10th. The shares were 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 ninety days, insiders sold 45,627 shares of company stock worth $2,557,674. Corporate insiders own 20.50% of the company's stock.

Corcept Therapeutics Price Performance

Shares of CORT traded up $1.49 during midday trading on Wednesday, reaching $57.99. The stock had a trading volume of 602,649 shares, compared to its average volume of 1,018,442. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market capitalization of $6.12 billion, a P/E ratio of 46.03 and a beta of 0.61. The firm's 50 day moving average price is $61.07 and its 200-day moving average price is $53.45. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $75.00.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Corcept Therapeutics 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.