Teacher Retirement System of Texas Raises Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Teacher Retirement System of Texas raised its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,856 shares of the biotechnology company’s stock after purchasing an additional 4,356 shares during the quarter. Teacher Retirement System of Texas’ holdings in Corcept Therapeutics were worth $1,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 0.4% during the fourth quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company’s stock worth $192,975,000 after purchasing an additional 15,908 shares during the period. State Street Corp raised its position in Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after buying an additional 19,893 shares during the last quarter. Geode Capital Management LLC lifted its stake in Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after acquiring an additional 99,470 shares during the period. FMR LLC boosted its holdings in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after acquiring an additional 352,947 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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 owns 3,019,411 shares of the company’s stock, valued at $183,912,324.01. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,022 shares of company stock worth $2,703,257 in the last quarter. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Down 3.6 %

CORT stock opened at $54.63 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $75.00. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.76 billion, a P/E ratio of 43.36 and a beta of 0.61. The company’s 50-day simple moving average is $61.89 and its 200-day simple moving average is $54.47.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) 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 analysts’ expectations of $200.12 million. As a group, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on CORT. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group raised their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and an average target price of $99.75.

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.