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

Braun Stacey Associates Inc. grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 366,619 shares of the biotechnology company's stock after buying an additional 70,229 shares during the quarter. Corcept Therapeutics accounts for about 1.7% of Braun Stacey Associates Inc.'s portfolio, making the stock its 10th largest holding. Braun Stacey Associates Inc. owned about 0.35% of Corcept Therapeutics worth $41,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Corcept Therapeutics in the 4th quarter worth about $1,597,000. Smartleaf Asset Management LLC raised its holdings in Corcept Therapeutics by 311.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company's stock worth $121,000 after purchasing an additional 1,795 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 during the period. Victory Capital Management Inc. raised its holdings in Corcept Therapeutics by 79.4% in the 4th quarter. Victory Capital Management Inc. now owns 75,029 shares of the biotechnology company's stock worth $3,781,000 after purchasing an additional 33,206 shares during the period. Finally, Arizona State Retirement System raised its holdings in Corcept Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock worth $1,374,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Transactions at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the 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 accessible through this link. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $78.04, for a total value of $390,200.00. Following the completion of the sale, the insider directly owned 9,009 shares of the company's stock, valued at approximately $703,062.36. This represents a 35.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,233 shares of company stock valued at $17,014,551. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Stock Down 6.5%

Shares of Corcept Therapeutics stock traded down $4.73 during mid-day trading on Monday, reaching $67.54. 1,904,979 shares of the stock traded hands, compared to its average volume of 1,183,424. The business has a 50-day moving average of $72.80 and a 200 day moving average of $66.08. Corcept Therapeutics Incorporated has a fifty-two week low of $29.42 and a fifty-two week high of $117.33. The stock has a market capitalization of $7.16 billion, a PE ratio of 58.22 and a beta of 0.15.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. The business had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The business's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CORT shares. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler upped their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday, May 6th. HC Wainwright reduced their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average 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.