Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 269.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,859 shares of the biotechnology company’s stock after buying an additional 2,086 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Corcept Therapeutics were worth $144,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CORT. Vanguard Group Inc. increased its stake in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock worth $509,726,000 after acquiring an additional 109,294 shares during the period. Parallel Advisors LLC grew its position in Corcept Therapeutics by 0.4% during the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock worth $192,975,000 after purchasing an additional 15,908 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock valued at $82,889,000 after buying an additional 64,321 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company’s stock valued at $69,381,000 after buying an additional 153,100 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Corcept Therapeutics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company’s stock worth $52,988,000 after buying an additional 25,073 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at $8,608,435.88. The trade was a 53.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 1,974 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.83, for a total transaction of $120,078.42. Following the completion of the transaction, the chief executive officer now owns 3,017,437 shares in the company, valued at $183,550,692.71. The trade was a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 340,125 shares of company stock worth $28,905,496. 20.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CORT shares. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. HC Wainwright cut their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Finally, Piper Sandler upped their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $138.25.

Corcept Therapeutics Trading Down 1.4%

Shares of Corcept Therapeutics stock opened at $69.01 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.04 and a twelve month high of $117.33. The firm’s 50-day moving average price is $72.48 and its 200 day moving average price is $63.73. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $7.32 billion, a PE ratio of 54.77 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $157.21 million during the quarter, compared to analysts’ expectations of $177.93 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS 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.