TD Asset Management Inc Raises Stock Position in Corcept Therapeutics Incorporated $CORT

TD Asset Management Inc boosted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 994,844 shares of the biotechnology company’s stock after purchasing an additional 38,708 shares during the period. TD Asset Management Inc owned approximately 0.95% of Corcept Therapeutics worth $34,621,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CORT. Royal Bank of Canada raised its stake in Corcept Therapeutics by 18.9% during the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after purchasing an additional 2,444 shares during the period. Amundi acquired a new stake in shares of Corcept Therapeutics during the first quarter valued at about $450,000. NewEdge Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the first quarter valued at about $518,000. EverSource Wealth Advisors LLC increased its position in shares of Corcept Therapeutics by 273.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Corcept Therapeutics by 795.3% during the second quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock valued at $3,391,000 after acquiring an additional 41,040 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $72.62 on Friday. The stock has a market capitalization of $7.80 billion, a P/E ratio of 207.49 and a beta of 0.50. The company has a 50 day moving average price of $51.73 and a 200 day moving average price of $52.15. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The business had revenue of $164.90 million during the quarter, compared to analyst estimates of $185.83 million. Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 26,198 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $50.07, for a total value of $1,311,733.86. Following the completion of the transaction, the chief executive officer owned 2,918,326 shares in the company, valued at approximately $146,120,582.82. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 75,000 shares of Corcept Therapeutics stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $65.59, for a total transaction of $4,919,250.00. Following the completion of the transaction, the insider owned 8,977 shares of the company’s stock, valued at $588,801.43. This trade represents a 89.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 242,965 shares of company stock valued at $14,802,964. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CORT shares. Canaccord Genuity Group lifted their price target on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. HC Wainwright lifted their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. Finally, Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average target price of $88.83.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.