Corcept Therapeutics Incorporated $CORT Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.7% during the third quarter, Holdings Channel.com reports. The fund owned 365,838 shares of the biotechnology company’s stock after purchasing an additional 44,070 shares during the quarter. Public Sector Pension Investment Board’s holdings in Corcept Therapeutics were worth $30,405,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Corcept Therapeutics by 18.9% in the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock worth $1,757,000 after purchasing an additional 2,444 shares during the period. Amundi purchased a new position in Corcept Therapeutics in the first quarter valued at approximately $450,000. NewEdge Advisors LLC acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $518,000. Truist Financial Corp lifted its position in Corcept Therapeutics by 23.6% during the second quarter. Truist Financial Corp now owns 3,309 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 631 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in Corcept Therapeutics by 3.4% during the second quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company’s stock worth $453,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial set a $50.00 target price on shares of Corcept Therapeutics in a research note on Wednesday, December 31st. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Wednesday, December 31st. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. UBS Group assumed coverage on Corcept Therapeutics in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price for the company. Finally, Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.50.

Corcept Therapeutics Stock Up 4.3%

Shares of Corcept Therapeutics stock opened at $39.97 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $32.99 and a 1-year high of $117.33. The company has a market capitalization of $4.20 billion, a PE ratio of 45.42 and a beta of 0.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. The business has a 50-day moving average of $53.90 and a 200-day moving average of $68.10.

Insiders Place Their Bets

In other news, insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $40.87, for a total transaction of $817,400.00. Following the completion of the transaction, the insider directly owned 1,235 shares in the company, valued at approximately $50,474.45. This represents a 94.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the sale, the insider owned 7,904 shares of the company’s stock, valued at approximately $628,526.08. This trade represents a 71.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 129,500 shares of company stock worth $8,665,500 in the last quarter. Company insiders own 20.80% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.