State of New Jersey Common Pension Fund D Has $2.62 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

State of New Jersey Common Pension Fund D reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.9% during the third quarter, Holdings Channel reports. The institutional investor owned 56,674 shares of the biotechnology company’s stock after selling 2,313 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Corcept Therapeutics were worth $2,623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CORT. Nisa Investment Advisors LLC raised its position in shares of Corcept Therapeutics by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 510 shares during the period. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the third quarter worth $25,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Corcept Therapeutics by 0.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock valued at $4,138,000 after buying an additional 541 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Corcept Therapeutics by 5.0% during the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock valued at $395,000 after buying an additional 580 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics during the third quarter worth about $36,000. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the topic of several recent research reports. Piper Sandler raised their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $65.25.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Charles Robb sold 3,101 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total transaction of $110,736.71. Following the transaction, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,301 shares of company stock worth $1,594,253 in the last quarter. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Down 2.3 %

CORT stock opened at $56.45 on Thursday. The stock has a market cap of $5.91 billion, a P/E ratio of 44.80 and a beta of 0.45. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $45.70 and its two-hundred day simple moving average is $36.48. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Analysts expect that Corcept Therapeutics Incorporated will post 1.31 EPS for the current year.

Corcept Therapeutics 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.