Captrust Financial Advisors Sells 19,255 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Captrust Financial Advisors trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,740 shares of the biotechnology company’s stock after selling 19,255 shares during the period. Captrust Financial Advisors’ holdings in Corcept Therapeutics were worth $4,801,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its position in shares of Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after acquiring an additional 269,074 shares during the period. M&G PLC bought a new stake in Corcept Therapeutics in the third quarter valued at $11,173,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Corcept Therapeutics by 20.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after purchasing an additional 143,507 shares during the period. abrdn plc boosted its position in shares of Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock worth $30,867,000 after purchasing an additional 142,310 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Corcept Therapeutics by 94.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company’s stock valued at $8,554,000 after buying an additional 128,194 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of research reports. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Truist Financial increased their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Trading Up 0.8 %

NASDAQ CORT opened at $59.67 on Wednesday. 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 business has a fifty day simple moving average of $50.82 and a 200 day simple moving average of $39.61. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $61.66. The firm has a market capitalization of $6.25 billion, a P/E ratio of 47.36 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results 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 net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the business’s stock in a transaction 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 owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on 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. Insiders have sold a total of 24,611 shares of company stock valued at $1,210,548 in the last 90 days. 20.50% of the stock is currently owned by corporate 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.