AQR Capital Management LLC Lowers Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

AQR Capital Management LLC decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,055 shares of the biotechnology company’s stock after selling 19,353 shares during the period. AQR Capital Management LLC owned about 0.23% of Corcept Therapeutics worth $7,767,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norden Group LLC purchased a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $50,081,000. Jacobs Levy Equity Management Inc. acquired a new stake in Corcept Therapeutics in the first quarter valued at approximately $18,426,000. Jupiter Asset Management Ltd. increased its position in shares of Corcept Therapeutics by 1,149.0% in the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after buying an additional 684,863 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter valued at approximately $14,670,000. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $15,164,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright upped their price target on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Truist Financial boosted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $56.50.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the sale, the insider now directly owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the completion of the sale, the insider now owns 23,190 shares in the company, valued at approximately $828,114.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the transaction, the insider now owns 6,039 shares in the company, valued at $213,176.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,251 shares of company stock valued at $1,365,292. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Down 1.8 %

Corcept Therapeutics stock opened at $45.04 on Friday. The company has a fifty day simple moving average of $37.10 and a 200-day simple moving average of $31.20. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 42.49 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $47.71.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. Corcept Therapeutics’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 EPS for the current fiscal year.

Corcept Therapeutics Company Profile

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.