New York State Common Retirement Fund Has $2.28 Million Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

New York State Common Retirement Fund trimmed its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,235 shares of the biotechnology company’s stock after selling 36,749 shares during the period. New York State Common Retirement Fund owned about 0.07% of Corcept Therapeutics worth $2,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new stake in Corcept Therapeutics during the 3rd quarter worth about $202,000. New York State Teachers Retirement System grew its holdings in Corcept Therapeutics by 2.7% during the 3rd quarter. New York State Teachers Retirement System now owns 140,461 shares of the biotechnology company’s stock worth $3,827,000 after acquiring an additional 3,734 shares during the period. Strs Ohio acquired a new stake in Corcept Therapeutics during the 3rd quarter worth about $54,000. Allspring Global Investments Holdings LLC grew its holdings in Corcept Therapeutics by 351.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock worth $2,280,000 after acquiring an additional 65,148 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Corcept Therapeutics by 20.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 40,107 shares of the biotechnology company’s stock worth $1,093,000 after acquiring an additional 6,756 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

CORT stock opened at $24.48 on Wednesday. The stock has a market capitalization of $2.55 billion, a PE ratio of 23.09 and a beta of 0.50. The company’s 50-day moving average is $23.99 and its 200-day moving average is $25.13. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. The business had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. During the same quarter last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. HC Wainwright increased their price target on Corcept Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Truist Financial increased their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.10.

Insider Activity at Corcept Therapeutics

In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares of the company’s stock, valued at approximately $176,124. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $23.59, for a total value of $51,898.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,413 shares of company stock valued at $2,352,176. 20.50% of the stock is owned by corporate insiders.

About Corcept Therapeutics

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.