Boston Trust Walden Corp Reduces Holdings in Corcept Therapeutics Incorporated $CORT

Boston Trust Walden Corp lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 462,606 shares of the biotechnology company’s stock after selling 65,020 shares during the quarter. Boston Trust Walden Corp’s holdings in Corcept Therapeutics were worth $18,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CORT. Torren Management LLC purchased a new stake in Corcept Therapeutics during the fourth quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in shares of Corcept Therapeutics in the third quarter worth about $25,000. Atlas Capital Advisors Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth about $31,000. Hantz Financial Services Inc. raised its position in shares of Corcept Therapeutics by 113.7% in the fourth quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 524 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Corcept Therapeutics by 2,326.3% in the third quarter. Larson Financial Group LLC now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 442 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CORT. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Corcept Therapeutics Stock Performance

Shares of Corcept Therapeutics stock opened at $90.21 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $91.00. The company’s 50 day moving average price is $67.96 and its 200-day moving average price is $52.45. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 257.75 and a beta of 0.47.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results 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). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The firm had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $185.83 million. During the same period in the previous year, the company earned $0.17 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David L. Mahoney sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total value of $1,690,600.00. Following the completion of the sale, the director directly owned 26,147 shares of the company’s stock, valued at approximately $2,210,205.91. This trade represents a 43.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Atabak Mokari sold 40,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.15, for a total transaction of $3,246,000.00. Following the completion of the sale, the chief financial officer owned 16,130 shares of the company’s stock, valued at $1,308,949.50. This trade represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 275,000 shares of company stock valued at $18,836,100 over the last quarter. 20.70% of the stock is owned by company insiders.

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.