Corcept Therapeutics Incorporated (NASDAQ:CORT) Stake Cut by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,300 shares of the biotechnology company’s stock after selling 24,972 shares during the quarter. Royce & Associates LP owned approximately 0.32% of Corcept Therapeutics worth $17,047,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Synergy Asset Management LLC grew its position in Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $4,483,000. Victory Capital Management Inc. boosted its stake in shares of Corcept Therapeutics by 49.2% during the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after buying an additional 13,787 shares during the period. Empowered Funds LLC purchased a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $1,784,000. Finally, State Street Corp increased its stake in shares of Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after acquiring an additional 19,893 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $56.01 on Monday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $60.84 and a 200-day simple moving average of $53.14. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 44.45 and a beta of 0.61. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,627 shares of company stock worth $2,557,674 in the last 90 days. 20.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a report on Thursday, February 27th. Piper Sandler increased their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Profile

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.