Axa S.A. Sells 9,674 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Axa S.A. lowered its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 42.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,948 shares of the biotechnology company’s stock after selling 9,674 shares during the quarter. Axa S.A.’s holdings in Corcept Therapeutics were worth $421,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the last quarter. Park Place Capital Corp acquired a new stake in Corcept Therapeutics during the second quarter worth about $32,000. Atwood & Palmer Inc. bought a new position in Corcept Therapeutics during the second quarter valued at about $35,000. FinTrust Capital Advisors LLC raised its holdings in Corcept Therapeutics by 318.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Corcept Therapeutics by 125.4% in the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,962 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 11,000 shares of the business’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 value of $509,080.00. Following the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 $1,053,888.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,251 shares of company stock valued at $1,365,292. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $46.75 on Wednesday. The business’s fifty day moving average price is $36.63 and its two-hundred day moving average price is $30.93. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $47.71. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 44.10 and a beta of 0.45.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on CORT. Truist Financial lifted their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Finally, Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and an average price target of $56.50.

Corcept Therapeutics Company 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.