Corcept Therapeutics Incorporated $CORT Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,829 shares of the biotechnology company’s stock after purchasing an additional 20,792 shares during the period. California State Teachers Retirement System’s holdings in Corcept Therapeutics were worth $4,468,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada increased its holdings in Corcept Therapeutics by 13.7% in the first quarter. Royal Bank of Canada now owns 14,314 shares of the biotechnology company’s stock valued at $577,000 after buying an additional 1,724 shares during the last quarter. Empowered Funds LLC bought a new position in Corcept Therapeutics during the 1st quarter worth approximately $3,922,000. The Manufacturers Life Insurance Company grew its position in shares of Corcept Therapeutics by 9.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,158 shares of the biotechnology company’s stock worth $974,000 after acquiring an additional 2,019 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Corcept Therapeutics by 2.6% in the 1st quarter. Quantinno Capital Management LP now owns 28,854 shares of the biotechnology company’s stock worth $1,163,000 after acquiring an additional 732 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 18.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,279 shares of the biotechnology company’s stock valued at $334,000 after acquiring an additional 1,274 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 3,700 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $113.12, for a total value of $418,544.00. Following the completion of the sale, the insider owned 3,985 shares of the company’s stock, valued at $450,783.20. This represents a 48.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 1,540 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $114.16, for a total transaction of $175,806.40. Following the completion of the transaction, the insider owned 5,495 shares of the company’s stock, valued at $627,309.20. This represents a 21.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 385,545 shares of company stock valued at $33,151,584. 20.70% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Performance

CORT stock opened at $110.77 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $122.21. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 263.74 and a beta of 0.45. The stock’s fifty day moving average is $89.31 and its two-hundred day moving average is $59.37.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%.The business had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CORT. Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report on Monday, July 27th. Wall Street Zen raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $119.17.

Corcept Therapeutics Company Profile

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.