Principal Financial Group Inc. Increases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Principal Financial Group Inc. raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 657,667 shares of the biotechnology company’s stock after purchasing an additional 12,593 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of Corcept Therapeutics worth $15,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at $47,000. Lazard Asset Management LLC lifted its stake in Corcept Therapeutics by 2,286.8% during the 2nd quarter. Lazard Asset Management LLC now owns 2,530 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 2,424 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Corcept Therapeutics by 87.8% during the 1st quarter. Captrust Financial Advisors now owns 6,805 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 3,181 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of Corcept Therapeutics in the second quarter worth approximately $191,000. Finally, Point72 Hong Kong Ltd raised its holdings in shares of Corcept Therapeutics by 17.1% during the first quarter. Point72 Hong Kong Ltd now owns 9,022 shares of the biotechnology company’s stock valued at $203,000 after purchasing an additional 1,315 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $25.99 on Thursday. Corcept Therapeutics Incorporated has a one year low of $15.82 and a one year high of $30.14. The business has a fifty day moving average price of $26.62 and a 200-day moving average price of $25.23. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.52 and a beta of 0.56.

Insiders Place Their Bets

In other news, insider Gary Charles Robb sold 50,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $26.06, for a total transaction of $1,303,000.00. Following the transaction, the insider now directly owns 49,544 shares of the company’s stock, valued at approximately $1,291,116.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Gary Charles Robb sold 50,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $26.06, for a total value of $1,303,000.00. Following the completion of the sale, the insider now directly owns 49,544 shares of the company’s stock, valued at $1,291,116.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 25,000 shares of Corcept Therapeutics stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.64, for a total transaction of $641,000.00. Following the transaction, the insider now owns 56,462 shares in the company, valued at approximately $1,447,685.68. The disclosure for this sale can be found here. Insiders sold a total of 114,814 shares of company stock worth $2,969,158 over the last quarter. 18.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CORT. Jefferies Financial Group upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $21.00 to $35.00 in a report on Wednesday, July 27th. HC Wainwright upped their price objective on Corcept Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Truist Financial downgraded Corcept Therapeutics to a “hold” rating in a report on Tuesday, August 9th. Finally, StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $32.00.

About Corcept Therapeutics

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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.

See Also

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

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