State of New Jersey Common Pension Fund D Boosts Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

State of New Jersey Common Pension Fund D grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,330 shares of the biotechnology company’s stock after purchasing an additional 22,322 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Corcept Therapeutics worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Linden Thomas Advisory Services LLC grew its position in Corcept Therapeutics by 0.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 56,116 shares of the biotechnology company’s stock worth $1,529,000 after acquiring an additional 368 shares during the period. Nisa Investment Advisors LLC grew its position in Corcept Therapeutics by 9.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 500 shares during the period. Exchange Traded Concepts LLC grew its position in Corcept Therapeutics by 1.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock worth $1,444,000 after acquiring an additional 641 shares during the period. Meritage Portfolio Management grew its position in Corcept Therapeutics by 3.7% in the fourth quarter. Meritage Portfolio Management now owns 26,268 shares of the biotechnology company’s stock worth $853,000 after acquiring an additional 949 shares during the period. Finally, FinTrust Capital Advisors LLC purchased a new position in Corcept Therapeutics in the third quarter worth approximately $27,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 27,068 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now directly owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total value of $141,518.00. Following the sale, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the sale, the insider now owns 74,455 shares in the company, valued at $1,933,596.35. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 in the last quarter. Corporate insiders own 19.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CORT shares. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, April 23rd. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Truist Financial upped their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $39.30.

Corcept Therapeutics Stock Up 2.7 %

NASDAQ:CORT opened at $22.80 on Friday. The stock’s fifty day moving average is $23.81 and its two-hundred day moving average is $25.34. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $34.28. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 24.00 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

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.