Dimensional Fund Advisors LP Has $104.74 Million Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Dimensional Fund Advisors LP cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,078,568 shares of the biotechnology company's stock after selling 453,931 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.98% of Corcept Therapeutics worth $104,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CORT. Vanguard Group Inc. raised its holdings in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after acquiring an additional 109,294 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Corcept Therapeutics by 0.4% in the fourth quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after buying an additional 15,908 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Corcept Therapeutics by 4.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after acquiring an additional 64,321 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Corcept Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock worth $52,988,000 after purchasing an additional 25,073 shares during the last quarter. Finally, Norges Bank bought a new position in Corcept Therapeutics in the fourth quarter valued at about $42,055,000. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright lifted their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Truist Financial raised their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Finally, Piper Sandler boosted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.25.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 163,124 shares of company stock worth $15,117,614. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Stock Up 3.4 %

Shares of CORT traded up $2.44 during midday trading on Friday, hitting $73.92. The stock had a trading volume of 339,105 shares, compared to its average volume of 1,119,828. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 58.54 and a beta of 0.15. Corcept Therapeutics Incorporated has a twelve month low of $23.02 and a twelve month high of $117.33. The company has a 50 day simple moving average of $65.47 and a two-hundred day simple moving average of $59.81. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current 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.