Illinois Municipal Retirement Fund Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Illinois Municipal Retirement Fund boosted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,527 shares of the biotechnology company’s stock after buying an additional 368 shares during the period. Illinois Municipal Retirement Fund’s holdings in Corcept Therapeutics were worth $2,395,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Black Diamond Financial LLC boosted its position in shares of Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 200 shares during the last quarter. Hancock Whitney Corp raised its stake in Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after purchasing an additional 270 shares in the last quarter. Principal Securities Inc. lifted its position in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares during the last quarter. KBC Group NV grew its stake in shares of Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after buying an additional 496 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 20.3% in the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock worth $151,000 after buying an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Piper Sandler raised their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research report on Thursday. Finally, StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $99.75.

Corcept Therapeutics Stock Down 5.6 %

Shares of NASDAQ:CORT opened at $59.85 on Friday. The firm has a market capitalization of $6.27 billion, a PE ratio of 47.50 and a beta of 0.58. The business has a 50 day simple moving average of $59.60 and a two-hundred day simple moving average of $51.16. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00. 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 (NASDAQ:CORT) last posted its quarterly earnings data 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). The business had revenue of $181.89 million for the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $59.46, for a total transaction of $130,812.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is currently owned by company insiders.

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.