State of New Jersey Common Pension Fund D Cuts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

State of New Jersey Common Pension Fund D decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,220 shares of the biotechnology company’s stock after selling 10,588 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Corcept Therapeutics were worth $2,527,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Maryland State Retirement & Pension System grew its holdings in shares of Corcept Therapeutics by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 38,389 shares of the biotechnology company’s stock valued at $865,000 after acquiring an additional 552 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Corcept Therapeutics by 6.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 13,738 shares of the biotechnology company’s stock worth $309,000 after buying an additional 783 shares during the last quarter. Campbell Newman Asset Management Inc. grew its position in Corcept Therapeutics by 2.0% during the first quarter. Campbell Newman Asset Management Inc. now owns 43,568 shares of the biotechnology company’s stock valued at $981,000 after buying an additional 846 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Corcept Therapeutics by 9.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,761 shares of the biotechnology company’s stock worth $233,000 after buying an additional 973 shares during the last quarter. Finally, Citigroup Inc. raised its position in Corcept Therapeutics by 2.7% in the fourth quarter. Citigroup Inc. now owns 89,753 shares of the biotechnology company’s stock worth $1,777,000 after acquiring an additional 2,396 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

CORT has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $21.00 to $35.00 in a research note on Wednesday, July 27th. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 28th. Finally, Truist Financial downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Monday. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and an average price target of $31.00.

Corcept Therapeutics Trading Down 4.6 %

Shares of NASDAQ:CORT opened at $27.33 on Tuesday. Corcept Therapeutics Incorporated has a 12 month low of $15.82 and a 12 month high of $29.93. The stock has a market cap of $2.90 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.88 and a beta of 0.51. The company has a 50 day moving average of $24.06 and a 200 day moving average of $22.57.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last released its quarterly earnings results on Thursday, May 5th. The biotechnology company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Corcept Therapeutics had a net margin of 29.42% and a return on equity of 24.23%. The firm had revenue of $93.70 million for the quarter, compared to analysts’ expectations of $103.23 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary Charles Robb sold 28,745 shares of Corcept Therapeutics stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $19.55, for a total transaction of $561,964.75. Following the completion of the sale, the insider now owns 42,701 shares in the company, valued at approximately $834,804.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Gary Charles Robb sold 28,745 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $19.55, for a total transaction of $561,964.75. Following the sale, the insider now owns 42,701 shares in the company, valued at approximately $834,804.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $27.37, for a total transaction of $684,250.00. Following the completion of the transaction, the insider now owns 40,024 shares of the company’s stock, valued at $1,095,456.88. The disclosure for this sale can be found here. Insiders have sold 384,780 shares of company stock worth $9,889,303 in the last ninety days. 16.50% of the stock is currently owned by insiders.

About Corcept Therapeutics

(Get Rating)

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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