Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 175,359 shares of the biotechnology company’s stock after selling 16,218 shares during the period. Commonwealth Equity Services LLC owned approximately 0.17% of Corcept Therapeutics worth $5,697,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Park Place Capital Corp purchased a new position in Corcept Therapeutics during the second quarter valued at $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics during the second quarter worth about $35,000. FinTrust Capital Advisors LLC lifted its stake 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 buying an additional 1,348 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after buying an additional 448 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Up 0.8 %

Shares of CORT opened at $34.38 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $39.75. The stock has a fifty day simple moving average of $33.88 and a two-hundred day simple moving average of $28.99. The company has a market capitalization of $3.58 billion, a PE ratio of 32.43 and a beta of 0.44.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. During the same period in the previous year, the firm earned $0.25 earnings per share. Corcept Therapeutics’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CORT has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. HC Wainwright upped their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Truist Financial restated a “buy” rating and set a $65.00 price target on shares of Corcept Therapeutics in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $46.50.

Insiders Place Their Bets

In other news, insider William Guyer sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total value of $353,000.00. Following the transaction, the insider now owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 6,039 shares of the company’s stock, valued at $213,176.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.81, for a total value of $72,182.00. The disclosure for this sale can be found here. Insiders sold a total of 30,451 shares of company stock valued at $1,090,844 over the last quarter. 20.50% of the stock is owned by insiders.

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.