QRG Capital Management Inc. Grows Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

QRG Capital Management Inc. lifted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,923 shares of the biotechnology company’s stock after purchasing an additional 558 shares during the quarter. QRG Capital Management Inc. owned 0.09% of Corcept Therapeutics worth $11,071,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 313 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at $40,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics in the 4th quarter worth $42,000. Finally, Principal Securities Inc. lifted its stake in Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 483 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Piper Sandler raised their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. HC Wainwright decreased their price target on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.25.

Insider Transactions at Corcept Therapeutics

In related news, insider William Guyer sold 20,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $72.42, for a total value of $1,448,400.00. Following the completion of the transaction, the insider now directly owns 5,487 shares of the company’s stock, valued at $397,368.54. This represents a 78.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the sale, the insider now directly owns 9,009 shares in the company, valued at approximately $545,765.22. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,325 shares of company stock valued at $30,509,238. Company insiders own 20.80% of the company’s stock.

Corcept Therapeutics Stock Up 1.2%

Shares of NASDAQ:CORT opened at $70.90 on Tuesday. The stock’s 50-day moving average is $71.49 and its 200 day moving average is $64.48. The company has a market cap of $7.52 billion, a PE ratio of 56.27 and a beta of 0.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a 1 year low of $28.04 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.