Allspring Global Investments Holdings LLC Increases Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Allspring Global Investments Holdings LLC boosted its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 228,012 shares of the biotechnology company's stock after purchasing an additional 16,546 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.22% of Corcept Therapeutics worth $26,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CORT. Public Employees Retirement System of Ohio increased its stake in shares of Corcept Therapeutics by 269.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 2,086 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Corcept Therapeutics by 30.7% during the fourth quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock valued at $4,720,000 after purchasing an additional 22,011 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Corcept Therapeutics by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock valued at $13,096,000 after purchasing an additional 6,832 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $12,084,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. HC Wainwright cut their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.25.

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 that occurred on Tuesday, June 10th. The shares were sold at an average price of $70.61, for a total value of $155,342.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $79.08, for a total transaction of $1,581,600.00. Following the sale, the insider owned 17,705 shares of the company's stock, valued at approximately $1,400,111.40. This represents a 53.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,233 shares of company stock valued at $17,014,551. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics Trading Up 1.8%

CORT traded up $1.31 during trading on Thursday, hitting $72.65. 675,773 shares of the company's stock traded hands, compared to its average volume of 1,179,865. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 62.63 and a beta of 0.15. The company's 50 day simple moving average is $72.85 and its two-hundred day simple moving average is $65.65. Corcept Therapeutics Incorporated has a 12-month low of $29.42 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The firm had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. During the same period in the prior year, the company posted $0.25 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect 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.