Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 495,658 shares of the biotechnology company’s stock after selling 20,770 shares during the period. Principal Financial Group Inc.’s holdings in Corcept Therapeutics were worth $22,939,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in shares of Corcept Therapeutics during the 1st quarter worth $706,000. Texas Permanent School Fund Corp lifted its position in Corcept Therapeutics by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 79,390 shares of the biotechnology company’s stock worth $2,000,000 after buying an additional 1,435 shares during the period. Swiss National Bank lifted its position in Corcept Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 172,965 shares of the biotechnology company’s stock worth $4,357,000 after buying an additional 1,200 shares during the period. Sei Investments Co. boosted its stake in Corcept Therapeutics by 207.7% in the 1st quarter. Sei Investments Co. now owns 61,627 shares of the biotechnology company’s stock worth $1,552,000 after buying an additional 41,600 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Corcept Therapeutics by 464.0% in the 1st quarter. Russell Investments Group Ltd. now owns 108,977 shares of the biotechnology company’s stock valued at $2,745,000 after buying an additional 89,655 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,301 shares of company stock valued at $1,594,253. Corporate insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Truist Financial boosted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $56.45 on Thursday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.91 billion, a P/E ratio of 44.80 and a beta of 0.45. The firm has a fifty day moving average of $45.70 and a 200-day moving average of $36.48. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same period last year, the company posted $0.28 earnings per share. The firm’s revenue was up 47.7% compared to the same quarter last year. As a group, analysts predict that Corcept Therapeutics Incorporated will post 1.31 EPS for the current year.

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.