3,107 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,107 shares of the biotechnology company’s stock, valued at approximately $355,000.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new stake in Corcept Therapeutics in the first quarter valued at about $384,000. Oppenheimer & Co. Inc. raised its stake in Corcept Therapeutics by 39.0% in the first quarter. Oppenheimer & Co. Inc. now owns 22,246 shares of the biotechnology company’s stock valued at $2,541,000 after buying an additional 6,246 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Corcept Therapeutics in the first quarter valued at about $580,000. CWA Asset Management Group LLC raised its stake in Corcept Therapeutics by 21.6% in the first quarter. CWA Asset Management Group LLC now owns 19,802 shares of the biotechnology company’s stock valued at $2,262,000 after buying an additional 3,511 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Corcept Therapeutics by 0.6% in the first quarter. QRG Capital Management Inc. now owns 96,923 shares of the biotechnology company’s stock valued at $11,071,000 after buying an additional 558 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $78.04, for a total transaction of $390,200.00. Following the sale, the insider directly owned 9,009 shares of the company’s stock, valued at $703,062.36. This trade represents a 35.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $82.86, for a total value of $3,314,400.00. Following the sale, the chief executive officer directly owned 2,901,985 shares in the company, valued at approximately $240,458,477.10. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,828 shares of company stock valued at $16,984,794 over the last 90 days. Company insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $71.34 on Thursday. The stock’s 50-day simple moving average is $72.83 and its 200-day simple moving average is $65.54. The firm has a market capitalization of $7.56 billion, a PE ratio of 61.50 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $29.42 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current 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.