State of New Jersey Common Pension Fund D Sells 10,588 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

State of New Jersey Common Pension Fund D reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 8.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,220 shares of the biotechnology company’s stock after selling 10,588 shares during the period. State of New Jersey Common Pension Fund D owned about 0.11% of Corcept Therapeutics worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in Corcept Therapeutics by 58.4% during the 4th quarter. ProShare Advisors LLC now owns 23,885 shares of the biotechnology company’s stock worth $473,000 after acquiring an additional 8,804 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Corcept Therapeutics by 305.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,101 shares of the biotechnology company’s stock valued at $952,000 after purchasing an additional 36,251 shares during the period. Parallel Advisors LLC raised its position in Corcept Therapeutics by 7.8% during the 1st quarter. Parallel Advisors LLC now owns 1,944,319 shares of the biotechnology company’s stock worth $47,014,000 after purchasing an additional 140,937 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Corcept Therapeutics by 10.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 83,808 shares of the biotechnology company’s stock worth $1,659,000 after buying an additional 7,702 shares during the period. Finally, S&T Bank PA grew its position in shares of Corcept Therapeutics by 5.9% in the 4th quarter. S&T Bank PA now owns 513,827 shares of the biotechnology company’s stock valued at $10,174,000 after buying an additional 28,451 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $27.33 on Tuesday. Corcept Therapeutics Incorporated has a fifty-two week low of $15.82 and a fifty-two week high of $29.93. The stock has a 50 day simple moving average of $24.06 and a two-hundred day simple moving average of $22.57. The company has a market cap of $2.90 billion, a P/E ratio of 30.03, a PEG ratio of 2.88 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The biotechnology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Corcept Therapeutics had a return on equity of 24.23% and a net margin of 29.42%. The company had revenue of $93.70 million for the quarter, compared to analyst estimates of $103.23 million. During the same period last year, the business earned $0.18 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, research analysts predict that Corcept Therapeutics Incorporated will post 0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Corcept Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $35.00 in a research report on Wednesday, July 27th. Truist Financial downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Monday. They noted that the move was a valuation call. Finally, StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Buy” and an average price target of $31.00.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $27.37, for a total transaction of $684,250.00. Following the transaction, the insider now owns 40,024 shares in the company, valued at $1,095,456.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sean Maduck sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $27.37, for a total transaction of $684,250.00. Following the completion of the sale, the insider now owns 40,024 shares in the company, valued at $1,095,456.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph K. Belanoff sold 279,908 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $26.27, for a total value of $7,353,183.16. Following the transaction, the chief executive officer now directly owns 2,538,218 shares in the company, valued at $66,678,986.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 384,780 shares of company stock worth $9,889,303. 16.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Company Profile

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Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.