Public Sector Pension Investment Board Has $9.13 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Public Sector Pension Investment Board decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,295 shares of the biotechnology company’s stock after selling 4,300 shares during the period. Public Sector Pension Investment Board’s holdings in Corcept Therapeutics were worth $9,131,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 27.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,344 shares of the biotechnology company’s stock worth $210,000 after buying an additional 1,808 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Corcept Therapeutics by 950.2% during the 1st quarter. Advisors Asset Management Inc. now owns 5,587 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 5,055 shares in the last quarter. Janus Henderson Group PLC raised its position in Corcept Therapeutics by 482.6% in the 1st quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after purchasing an additional 219,551 shares during the last quarter. Cetera Advisors LLC acquired a new position in Corcept Therapeutics during the 1st quarter worth about $340,000. Finally, Park Place Capital Corp bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $32,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $57.68 on Friday. The stock has a market cap of $6.04 billion, a PE ratio of 45.78 and a beta of 0.45. The stock has a 50-day moving average of $49.88 and a 200-day moving average of $38.80. 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 one year low of $20.84 and a one year high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

CORT has been the subject of a number of recent research reports. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Truist Financial boosted their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $65.25.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. This trade represents a 32.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,611 shares of company stock worth $1,563,548. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Company 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.