Boston Trust Walden Corp Has $18.65 Million Holdings in Corcept Therapeutics Incorporated $CORT

Key Points

• Boston Trust Walden Corp cut its Corcept Therapeutics stake by 12.3% in the first quarter, but still held 462,606 shares worth about $18.65 million as of its latest SEC filing.
• Several other large investors increased their positions, and institutional ownership remains high at 93.61% of the company’s stock.
• Corcept reported a quarterly earnings miss, posting ($0.30) EPS versus expectations of ($0.11), while analysts currently rate the stock Moderate Buy with an average price target of $88.83.

Boston Trust Walden Corp trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 12.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 462,606 shares of the biotechnology company's stock after selling 65,020 shares during the period. Boston Trust Walden Corp owned approximately 0.43% of Corcept Therapeutics worth $18,648,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Corcept Therapeutics by 223.4% in the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company's stock worth $70,632,000 after purchasing an additional 587,053 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Corcept Therapeutics by 111.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 507,967 shares of the biotechnology company's stock valued at $19,404,000 after purchasing an additional 268,155 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Corcept Therapeutics by 34.1% during the third quarter. First Trust Advisors LP now owns 720,224 shares of the biotechnology company's stock valued at $59,858,000 after purchasing an additional 183,038 shares during the period. Checkpoint Capital L.P. raised its holdings in shares of Corcept Therapeutics by 14.1% during the third quarter. Checkpoint Capital L.P. now owns 392,331 shares of the biotechnology company's stock valued at $32,607,000 after purchasing an additional 48,414 shares during the period. Finally, Avidity Partners Management LP bought a new position in shares of Corcept Therapeutics during the 4th quarter worth about $766,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director David L. Mahoney sold 20,000 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total value of $1,690,600.00. Following the transaction, the director directly owned 26,147 shares in the company, valued at $2,210,205.91. The trade was a 43.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $70.60, for a total transaction of $1,412,000.00. Following the completion of the transaction, the insider owned 3,985 shares in the company, valued at approximately $281,341. The trade was a 83.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 275,000 shares of company stock valued at $18,836,100 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $90.21 on Friday. The business's fifty day simple moving average is $67.96 and its 200 day simple moving average is $52.45. The firm has a market capitalization of $9.68 billion, a P/E ratio of 257.75 and a beta of 0.47. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $91.00.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The business had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. During the same quarter last year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on CORT shares. Zacks Research raised Corcept Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Piper Sandler boosted their price objective on Corcept Therapeutics from $73.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Finally, Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $88.83.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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