Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 35.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,800 shares of the biotechnology company's stock after selling 314,261 shares during the period. Boston Trust Walden Corp owned about 0.55% of Corcept Therapeutics worth $66,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth about $4,483,000. New York State Teachers Retirement System grew its holdings in shares of Corcept Therapeutics by 3.0% during the fourth quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company's stock worth $6,462,000 after purchasing an additional 3,789 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after purchasing an additional 483 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Corcept Therapeutics by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 517,332 shares of the biotechnology company's stock worth $26,068,000 after purchasing an additional 21,674 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Corcept Therapeutics by 3.2% during the fourth quarter. Sanctuary Advisors LLC now owns 29,258 shares of the biotechnology company's stock worth $1,474,000 after purchasing an additional 905 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Down 0.8%

NASDAQ CORT opened at $71.24 on Thursday. Corcept Therapeutics Incorporated has a 52-week low of $28.10 and a 52-week high of $117.33. The business's 50-day moving average price is $71.43 and its 200 day moving average price is $64.57. The firm has a market cap of $7.55 billion, a P/E ratio of 61.41 and a beta of 0.19.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. HC Wainwright dropped their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen lowered 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 Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Piper Sandler raised 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 421 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the sale, the insider now owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Maduck sold 100,000 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the sale, the insider now owns 85,622 shares of the company's stock, valued at approximately $8,608,435.88. The trade was a 53.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 362,325 shares of company stock worth $30,509,238 over the last 90 days. Company insiders own 20.80% of the company's stock.

Corcept Therapeutics 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.

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