Louisiana State Employees Retirement System Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Louisiana State Employees Retirement System purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,200 shares of the biotechnology company's stock, valued at approximately $1,468,000.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Corcept Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company's stock worth $347,366,000 after acquiring an additional 376,774 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Corcept Therapeutics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company's stock worth $264,915,000 after buying an additional 458,414 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Corcept Therapeutics by 2.5% in the first quarter. Federated Hermes Inc. now owns 4,740,420 shares of the biotechnology company's stock worth $106,754,000 after buying an additional 114,571 shares during the last quarter. State Street Corp boosted its holdings in shares of Corcept Therapeutics by 2.6% in the second quarter. State Street Corp now owns 3,499,446 shares of the biotechnology company's stock worth $83,217,000 after buying an additional 89,888 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Corcept Therapeutics by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,154,007 shares of the biotechnology company's stock worth $46,656,000 after buying an additional 68,382 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insider Transactions at Corcept Therapeutics

In other news, CAO Joseph Douglas Lyon sold 1,000 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now owns 6,774 shares of the company's stock, valued at $176,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Joseph Douglas Lyon sold 1,000 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the sale, the chief accounting officer now owns 6,774 shares in the company, valued at $176,124. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,783 shares of company stock valued at $2,118,996. 19.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CORT. Truist Financial raised their price objective on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, February 16th. StockNews.com downgraded shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Finally, HC Wainwright lowered their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, January 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics currently has an average rating of "Buy" and an average price target of $37.30.

Corcept Therapeutics Stock Up 1.3 %

NASDAQ:CORT traded up $0.29 during trading hours on Friday, hitting $22.95. 924,783 shares of the stock traded hands, compared to its average volume of 734,559. Corcept Therapeutics Incorporated has a 1 year low of $20.87 and a 1 year high of $34.28. The stock has a 50 day moving average price of $23.93 and a 200 day moving average price of $25.47. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 24.16 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company's quarterly revenue was up 31.4% compared to the same quarter last year. Equities analysts forecast that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current fiscal year.

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.