QRG Capital Management Inc. Raises Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

QRG Capital Management Inc. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,923 shares of the biotechnology company’s stock after acquiring an additional 558 shares during the period. QRG Capital Management Inc.’s holdings in Corcept Therapeutics were worth $11,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CORT. Vanguard Group Inc. lifted its holdings in shares of Corcept Therapeutics by 1.1% during the fourth 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 during the last quarter. Parallel Advisors LLC raised its stake in Corcept Therapeutics by 3.7% during the first quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company’s stock valued at $453,729,000 after buying an additional 142,784 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Corcept Therapeutics by 4.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company’s stock valued at $82,889,000 after buying an additional 64,321 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Corcept Therapeutics by 12.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company’s stock worth $69,381,000 after acquiring an additional 153,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Corcept Therapeutics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company’s stock worth $52,988,000 after acquiring an additional 25,073 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In other news, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $72.42, for a total value of $1,448,400.00. Following the transaction, the insider now directly owns 5,487 shares in the company, valued at $397,368.54. This trade represents a 78.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at $8,608,435.88. The trade was a 53.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 362,325 shares of company stock valued at $30,509,238. Company insiders own 20.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CORT shares. Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $138.25.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $70.90 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 56.27 and a beta of 0.19. The business has a 50-day simple moving average of $71.49 and a two-hundred day simple moving average of $64.48. Corcept Therapeutics Incorporated has a fifty-two week low of $28.04 and a fifty-two week high of $117.33.

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

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.