Thrivent Financial for Lutherans Has $3.63 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Thrivent Financial for Lutherans lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,077 shares of the biotechnology company’s stock after selling 953 shares during the period. Thrivent Financial for Lutherans’ holdings in Corcept Therapeutics were worth $3,632,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC grew its stake in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after buying an additional 262,503 shares during the last quarter. Van ECK Associates Corp bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $4,483,000. State Street Corp grew its position in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Burney Co. increased its stake in shares of Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after purchasing an additional 39,657 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Corcept Therapeutics by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after purchasing an additional 76,573 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

CORT opened at $58.32 on Wednesday. The stock’s 50 day simple moving average is $61.79 and its 200-day simple moving average is $54.29. 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 has a market cap of $6.15 billion, a PE ratio of 46.29 and a beta of 0.61. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

CORT has been the topic of several recent analyst reports. Piper Sandler lifted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.75.

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the sale, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,627 shares of company stock valued at $2,557,674 over the last quarter. 20.50% of the stock is owned by company insiders.

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.