Boston Trust Walden Corp Sells 34,635 Shares of Corcept Therapeutics Incorporated $CORT

Key Points

• Boston Trust Walden reduced its Corcept stake by 6.2%, selling 34,635 shares in Q4 and now holds 527,626 shares (~0.50% of the company) valued at $18.36 million.
• Institutional ownership is high at 93.61% with large increases from AQR, JPMorgan, UBS and Pacer, while insiders have sold 86,198 shares (~$3.67M) in the last 90 days and still own 20.8% of the stock.
• Analysts are mixed but show a consensus of "Moderate Buy" with an average target of $77.67; the company recently missed Q (EPS $0.20 vs $0.33 and revenue $202.13M vs $254.94M) and shares trade around $46.57 (1‑yr range $28.66–$91.00).

Boston Trust Walden Corp reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 527,626 shares of the biotechnology company's stock after selling 34,635 shares during the quarter. Boston Trust Walden Corp owned about 0.50% of Corcept Therapeutics worth $18,361,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CORT. AQR Capital Management LLC boosted its position in shares of Corcept Therapeutics by 546.9% in the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company's stock valued at $125,264,000 after acquiring an additional 1,274,215 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Corcept Therapeutics by 223.4% in the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company's stock valued at $70,632,000 after acquiring an additional 587,053 shares during the period. UBS Group AG boosted its position in shares of Corcept Therapeutics by 413.8% in the third quarter. UBS Group AG now owns 549,938 shares of the biotechnology company's stock valued at $45,705,000 after acquiring an additional 442,898 shares during the period. Pacer Advisors Inc. raised its stake in Corcept Therapeutics by 6,796.7% in the third quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company's stock valued at $32,459,000 after purchasing an additional 384,896 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised 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. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright lowered their target price on shares of Corcept Therapeutics from $67.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Zacks Research downgraded shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 13th. Wolfe Research raised shares of Corcept Therapeutics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, March 26th. Finally, Truist Financial raised shares of Corcept Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.67.

Corcept Therapeutics Trading Up 3.3%

Shares of CORT opened at $46.57 on Thursday. The firm's 50 day simple moving average is $38.23 and its 200 day simple moving average is $56.06. The company has a market capitalization of $4.95 billion, a P/E ratio of 56.79 and a beta of 0.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.85. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $91.00.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.13). The business had revenue of $202.13 million during the quarter, compared to the consensus estimate of $254.94 million. Corcept Therapeutics had a return on equity of 15.19% and a net margin of 12.96%.The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $40.97, for a total value of $819,400.00. Following the completion of the sale, the insider directly owned 2,231 shares in the company, valued at approximately $91,404.07. The trade was a 89.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph K. Belanoff sold 26,198 shares of the business's stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $50.07, for a total transaction of $1,311,733.86. Following the completion of the sale, the chief executive officer owned 2,918,326 shares of the company's stock, valued at approximately $146,120,582.82. The trade was a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,198 shares of company stock worth $3,668,569. 20.80% of the stock is currently owned by insiders.

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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