Corcept Therapeutics Incorporated (NASDAQ:CORT) is Braun Stacey Associates Inc.'s 10th Largest Position

Braun Stacey Associates Inc. raised its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,619 shares of the biotechnology company's stock after buying an additional 70,229 shares during the quarter. Corcept Therapeutics comprises about 1.7% of Braun Stacey Associates Inc.'s holdings, making the stock its 10th largest position. Braun Stacey Associates Inc. owned about 0.35% of Corcept Therapeutics worth $41,875,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CORT. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $40,000. National Bank of Canada FI bought a new position in Corcept Therapeutics in the 4th quarter worth about $42,000. Gen Wealth Partners Inc bought a new position in Corcept Therapeutics in the 4th quarter worth about $67,000. Harvest Fund Management Co. Ltd bought a new position in Corcept Therapeutics in the 4th quarter worth about $69,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 313 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler increased their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. HC Wainwright reduced their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Finally, Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $138.25.

Corcept Therapeutics Stock Performance

CORT stock traded down $4.72 during trading on Monday, hitting $67.55. 1,904,106 shares of the company traded hands, compared to its average volume of 1,183,422. Corcept Therapeutics Incorporated has a 1 year low of $29.42 and a 1 year high of $117.33. The company has a 50-day moving average of $72.87 and a 200-day moving average of $65.97. The firm has a market capitalization of $7.16 billion, a PE ratio of 58.23 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The business had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. During the same quarter last year, the business posted $0.25 EPS. The business's revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $70.61, for a total value of $155,342.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Guyer sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $72.42, for a total value of $1,448,400.00. Following the completion of the transaction, the insider owned 5,487 shares of the company's stock, valued at approximately $397,368.54. The trade was a 78.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,233 shares of company stock worth $17,014,551. Insiders own 20.50% of the company's stock.

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.