Janus Henderson Group PLC Acquires 10,817 Shares of Corcept Therapeutics Incorporated $CORT

Janus Henderson Group PLC boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 164,074 shares of the biotechnology company’s stock after acquiring an additional 10,817 shares during the quarter. Janus Henderson Group PLC’s holdings in Corcept Therapeutics were worth $6,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP raised its stake in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock worth $87,609,000 after acquiring an additional 1,480,059 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of 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 valued at $125,264,000 after purchasing an additional 1,274,215 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Corcept Therapeutics by 38.0% in the 4th quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock valued at $92,892,000 after purchasing an additional 734,646 shares in the last quarter. Norges Bank bought a new stake in shares of Corcept Therapeutics during the 4th quarter valued at approximately $24,213,000. Finally, UBS Group AG grew its holdings in shares of Corcept Therapeutics by 413.8% during the 3rd quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock valued at $45,705,000 after purchasing an additional 442,898 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Insider Activity

In other Corcept Therapeutics news, Director David L. Mahoney sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $84.53, for a total transaction of $1,690,600.00. Following the sale, the director owned 26,147 shares of the company’s stock, valued at approximately $2,210,205.91. This represents a 43.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Atabak Mokari sold 80,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $114.71, for a total value of $9,176,800.00. Following the sale, the chief financial officer owned 16,130 shares of the company’s stock, valued at approximately $1,850,272.30. The trade was a 83.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 381,845 shares of company stock worth $32,733,040 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $110.69 on Thursday. The company has a market capitalization of $11.97 billion, a PE ratio of 263.55 and a beta of 0.45. The company has a 50 day simple moving average of $87.69 and a two-hundred day simple moving average of $58.49. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The firm had revenue of $256.15 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter last year, the business earned $0.29 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. Research analysts predict that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

CORT has been the topic of several recent research reports. HC Wainwright raised their price objective on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canaccord Genuity Group increased their target price on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Wolfe Research cut Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a report on Monday, July 27th. Finally, Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.17.

Corcept Therapeutics Company 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.