Corcept Therapeutics Incorporated $CORT Shares Bought by TD Asset Management Inc

TD Asset Management Inc boosted its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 994,844 shares of the biotechnology company’s stock after acquiring an additional 38,708 shares during the period. TD Asset Management Inc’s holdings in Corcept Therapeutics were worth $34,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CORT. AQR Capital Management LLC grew its holdings in Corcept Therapeutics by 546.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after acquiring an additional 1,274,215 shares in the last quarter. Geode Capital Management LLC grew its holdings in Corcept Therapeutics by 38.0% during the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after acquiring an additional 734,646 shares in the last quarter. Norges Bank acquired a new position in Corcept Therapeutics during the 4th quarter worth approximately $24,213,000. JPMorgan Chase & Co. grew its holdings in Corcept Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after acquiring an additional 587,053 shares in the last quarter. Finally, UBS Group AG grew its holdings in Corcept Therapeutics by 413.8% during the 3rd quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock worth $45,705,000 after acquiring an additional 442,898 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. Following the completion of the sale, the insider owned 6,230 shares in the company, valued at $404,950. This represents a 44.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.21, for a total transaction of $1,755,250.00. Following the completion of the sale, the insider owned 8,977 shares of the company’s stock, valued at approximately $630,275.17. This trade represents a 73.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 242,965 shares of company stock worth $14,802,964 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the subject of several analyst reports. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a report on Thursday, March 26th. UBS Group set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, May 28th. HC Wainwright boosted their price objective on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Corcept Therapeutics Trading Down 3.0%

Shares of NASDAQ:CORT opened at $72.62 on Friday. The company has a market capitalization of $7.80 billion, a PE ratio of 207.49 and a beta of 0.50. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $91.00. The firm has a 50 day simple moving average of $51.73 and a 200-day simple moving average of $52.15.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The company had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.