Boston Trust Walden Corp Reduces Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Boston Trust Walden Corp trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,513,975 shares of the biotechnology company’s stock after selling 69,924 shares during the period. Boston Trust Walden Corp’s holdings in Corcept Therapeutics were worth $70,067,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Corcept Therapeutics by 199.0% during the first quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock worth $5,330,000 after acquiring an additional 140,815 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in Corcept Therapeutics in the second quarter valued at about $984,000. State Board of Administration of Florida Retirement System boosted its stake in Corcept Therapeutics by 190.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock worth $1,684,000 after buying an additional 43,809 shares during the period. US Bancorp DE increased its position in shares of Corcept Therapeutics by 6,252.3% during the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 24,884 shares during the last quarter. Finally, Milestone Asset Management LLC raised its stake in shares of Corcept Therapeutics by 47.4% in the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after acquiring an additional 16,593 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

CORT stock traded up $0.04 during mid-day trading on Friday, reaching $47.28. The company had a trading volume of 933,325 shares, compared to its average volume of 1,183,725. The firm has a fifty day simple moving average of $41.05 and a 200 day simple moving average of $33.73. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 44.60 and a beta of 0.46. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $50.07.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at $213,176.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the sale, the insider now directly owns 22,772 shares in the company, valued at approximately $1,053,888.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,251 shares of company stock worth $1,365,292. Corporate insiders own 20.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. HC Wainwright increased their target price on Corcept Therapeutics from $45.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler lifted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $65.25.

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.