Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,542 shares of the biotechnology company's stock, valued at approximately $2,118,000.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in Corcept Therapeutics by 269.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock worth $144,000 after buying an additional 2,086 shares during the period. Victory Capital Management Inc. boosted its position in Corcept Therapeutics by 24.5% during the first quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock valued at $10,670,000 after purchasing an additional 18,389 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Corcept Therapeutics during the first quarter valued at about $331,000. JPMorgan Chase & Co. grew its position in shares of Corcept Therapeutics by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 259,902 shares of the biotechnology company's stock worth $13,096,000 after buying an additional 6,832 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Corcept Therapeutics during the first quarter worth $355,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider William Guyer sold 500 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $73.44, for a total transaction of $36,720.00. Following the sale, the insider owned 5,487 shares in the company, valued at approximately $402,965.28. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $71.08, for a total transaction of $156,376.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,038 shares of company stock worth $13,237,621. Corporate insiders own 20.80% of the company's stock.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock traded up $1.83 during trading on Friday, hitting $69.00. 2,107,375 shares of the company's stock were exchanged, compared to its average volume of 1,377,384. Corcept Therapeutics Incorporated has a 52-week low of $32.33 and a 52-week high of $117.33. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 59.48 and a beta of 0.15. The business has a 50-day simple moving average of $71.81 and a 200-day simple moving average of $68.21.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. Corcept Therapeutics had a return on equity of 20.40% and a net margin of 19.33%. The business had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same quarter last year, the business posted $0.32 EPS. The company's revenue was up 18.7% on a year-over-year basis. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research 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 research note on Tuesday, May 6th. Canaccord Genuity Group dropped their price target on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Piper Sandler reduced their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research note on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $134.50.

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.