Ensign Peak Advisors Inc Has $2.42 Million Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Ensign Peak Advisors Inc raised its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 29.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,929 shares of the biotechnology company's stock after buying an additional 11,040 shares during the quarter. Ensign Peak Advisors Inc's holdings in Corcept Therapeutics were worth $2,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $40,000. National Bank of Canada FI acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $42,000. USA Financial Formulas acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Corcept Therapeutics during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares of the company's stock, valued at $8,608,435.88. This represents a 53.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $72.06, for a total value of $158,532.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,738 shares of company stock valued at $20,484,994. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Trading Up 3.6%

CORT stock opened at $73.36 on Friday. The company has a market cap of $7.78 billion, a P/E ratio of 58.22 and a beta of 0.22. Corcept Therapeutics Incorporated has a twelve month low of $27.30 and a twelve month high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $68.17 and a 200-day moving average of $61.44.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a report on Tuesday, May 6th. Piper Sandler raised 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. HC Wainwright cut their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

About Corcept Therapeutics

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.

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