Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 24.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,418 shares of the biotechnology company's stock after buying an additional 18,389 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Corcept Therapeutics worth $10,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CORT. Corient Private Wealth LLC purchased a new stake in Corcept Therapeutics during the fourth quarter worth about $205,000. Xponance Inc. raised its holdings in Corcept Therapeutics by 21.3% in the fourth quarter. Xponance Inc. now owns 7,430 shares of the biotechnology company's stock valued at $374,000 after acquiring an additional 1,304 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Corcept Therapeutics by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 27,856 shares of the biotechnology company's stock valued at $1,404,000 after acquiring an additional 4,356 shares in the last quarter. American Century Companies Inc. raised its holdings in Corcept Therapeutics by 1.7% during the fourth quarter. American Century Companies Inc. now owns 98,868 shares of the biotechnology company's stock worth $4,982,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Corcept Therapeutics by 120.0% during the fourth quarter. Sei Investments Co. now owns 99,943 shares of the biotechnology company's stock worth $5,036,000 after purchasing an additional 54,521 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 1.0%

Shares of CORT traded up $0.70 during mid-day trading on Friday, hitting $68.29. The company had a trading volume of 395,581 shares, compared to its average volume of 1,418,507. Corcept Therapeutics Incorporated has a 1-year low of $32.33 and a 1-year high of $117.33. The business's 50-day simple moving average is $72.52 and its 200-day simple moving average is $67.61. The stock has a market cap of $7.24 billion, a PE ratio of 58.87 and a beta of 0.15.

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

Insider Activity

In related news, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the completion of the sale, the chief executive officer owned 2,901,985 shares of the company's stock, valued at approximately $240,458,477.10. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $78.04, for a total transaction of $390,200.00. Following the sale, the insider directly owned 9,009 shares of the company's stock, valued at approximately $703,062.36. This trade represents a 35.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,592 shares of company stock valued at $18,071,616 in the last ninety days. 20.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CORT. Wall Street Zen cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Piper Sandler raised their price objective on shares of 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 objective on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Finally, HC Wainwright cut their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.25.

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.