Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 49,852 shares of the biotechnology company’s stock after selling 3,724 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Corcept Therapeutics were worth $1,619,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. FinTrust Capital Advisors LLC acquired a new stake in shares of Corcept Therapeutics during the third quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $32,000. Planned Solutions Inc. bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $45,000. Strs Ohio acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at about $54,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Corcept Therapeutics by 1,313.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 4,312 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 4,007 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 over the last three months. Company insiders own 19.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CORT. Truist Financial boosted their price objective on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, February 16th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday. Finally, StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $39.30.

Corcept Therapeutics Stock Up 2.7 %

Shares of NASDAQ CORT opened at $22.80 on Friday. The firm’s 50-day moving average price is $23.81 and its two-hundred day moving average price is $25.38. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $34.28. The stock has a market capitalization of $2.37 billion, a P/E ratio of 24.00 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The business had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue was up 31.4% on a year-over-year basis. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current 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.