Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 28.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,008 shares of the biotechnology company’s stock after acquiring an additional 2,432 shares during the period. PNC Financial Services Group Inc.’s holdings in Corcept Therapeutics were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $32,000. Gladius Capital Management LP purchased a new stake in shares of Corcept Therapeutics during the 4th quarter worth about $36,000. Planned Solutions Inc. acquired a new stake in shares of Corcept Therapeutics during the 4th quarter valued at about $45,000. Headlands Technologies LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at about $47,000. Finally, Quadrant Capital Group LLC raised its holdings in Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 448 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on CORT shares. Truist Financial reissued a “buy” rating and issued a $65.00 price objective on shares of Corcept Therapeutics in a report on Monday, June 17th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Corcept Therapeutics in a report on Wednesday, May 29th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $44.30.

Corcept Therapeutics Price Performance

CORT stock opened at $32.49 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $35.22. The firm has a market capitalization of $3.38 billion, a PE ratio of 30.65 and a beta of 0.46. The business has a 50 day simple moving average of $28.37 and a 200-day simple moving average of $26.13.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The company had revenue of $146.80 million during the quarter, compared to analysts’ expectations of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.95 EPS for the current year.

Insider Activity

In related news, insider Sean Maduck sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the transaction, the insider now directly owns 85,222 shares in the company, valued at $2,386,216. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $25.30, for a total transaction of $55,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the insider now owns 85,222 shares in the company, valued at $2,386,216. The disclosure for this sale can be found here. Insiders sold a total of 94,400 shares of company stock valued at $2,631,317 in the last 90 days. Company insiders own 20.50% of the company’s stock.

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.