Raiffeisen Bank International AG Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Raiffeisen Bank International AG acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,000 shares of the biotechnology company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CORT. Ballentine Partners LLC bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $200,000. Nisa Investment Advisors LLC grew its stake in Corcept Therapeutics by 8.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company’s stock valued at $537,000 after acquiring an additional 814 shares in the last quarter. Inspire Investing LLC purchased a new position in Corcept Therapeutics during the fourth quarter valued at $807,000. Linden Thomas Advisory Services LLC grew its stake in Corcept Therapeutics by 2.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 63,224 shares of the biotechnology company’s stock valued at $3,186,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Corcept Therapeutics by 47.8% during the fourth quarter. Blue Trust Inc. now owns 17,225 shares of the biotechnology company’s stock valued at $797,000 after acquiring an additional 5,567 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the sale, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $72.06, for a total transaction of $158,532.00. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock valued at $20,484,994 in the last three months. Corporate insiders own 20.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CORT. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Piper Sandler raised their target price 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. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Canaccord Genuity Group raised their target price 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. Finally, HC Wainwright cut their target price 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $75.08 on Monday. Corcept Therapeutics Incorporated has a 52 week low of $27.30 and a 52 week high of $117.33. The stock has a market capitalization of $7.96 billion, a P/E ratio of 59.59 and a beta of 0.22. The firm has a fifty day simple moving average of $68.56 and a two-hundred day simple moving average of $61.82. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $157.21 million during the quarter, compared to analysts’ expectations of $177.93 million. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

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.