Corcept Therapeutics Incorporated $CORT Stock Holdings Lifted by KBC Group NV

KBC Group NV lifted its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1,684.4% during the first quarter, Holdings Channel reports. The firm owned 94,767 shares of the biotechnology company’s stock after purchasing an additional 89,456 shares during the quarter. KBC Group NV’s holdings in Corcept Therapeutics were worth $3,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Corcept Therapeutics by 546.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 734,646 shares during the period. Norges Bank bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $24,213,000. UBS Group AG grew its holdings in Corcept Therapeutics by 413.8% in the 3rd quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock valued at $45,705,000 after buying an additional 442,898 shares during the last quarter. Finally, Morgan Stanley increased its position in Corcept Therapeutics by 34.1% during the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock worth $55,404,000 after acquiring an additional 405,081 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CORT has been the subject of a number of recent research reports. UBS Group set a $135.00 target price on Corcept Therapeutics in a research note on Thursday, May 28th. Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, HC Wainwright increased their target price on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Corcept Therapeutics Trading Up 6.4%

CORT stock opened at $96.66 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $97.05. The firm has a market capitalization of $10.38 billion, a PE ratio of 276.18 and a beta of 0.47. The business’s 50 day simple moving average is $79.62 and its 200 day simple moving average is $54.19.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The firm had revenue of $164.90 million for the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.17 EPS. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 0.53 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director James N. Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total transaction of $832,000.00. Following the sale, the director owned 1,094,543 shares of the company’s stock, valued at approximately $91,065,977.60. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $65.59, for a total value of $4,919,250.00. Following the completion of the transaction, the insider directly owned 8,977 shares of the company’s stock, valued at $588,801.43. This represents a 89.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 300,000 shares of company stock valued at $22,088,050. Company insiders own 20.70% of the company’s stock.

About Corcept Therapeutics

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.