Envestnet Portfolio Solutions Inc. Buys Shares of 5,074 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Envestnet Portfolio Solutions Inc. bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,074 shares of the biotechnology company's stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after purchasing an additional 109,294 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after purchasing an additional 142,784 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock valued at $82,889,000 after purchasing an additional 64,321 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock valued at $69,381,000 after purchasing an additional 153,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $52,988,000 after purchasing an additional 25,073 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

CORT opened at $74.33 on Friday. The firm has a 50 day moving average price of $72.27 and a 200 day moving average price of $65.15. The company has a market cap of $7.88 billion, a PE ratio of 64.08 and a beta of 0.19. Corcept Therapeutics Incorporated has a 1 year low of $29.42 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its 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. The firm had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $70.22, for a total value of $154,484.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 35,102 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the completion of the sale, the chief executive officer now directly owns 2,982,335 shares of the company's stock, valued at $282,486,771.20. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,930 shares of company stock valued at $30,363,655 over the last 90 days. 20.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on CORT shares. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Piper Sandler upped their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Finally, HC Wainwright dropped their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. One equities 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 has a consensus rating of "Moderate Buy" and a consensus target price 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.

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