Principal Financial Group Inc. Sells 10,864 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Principal Financial Group Inc. trimmed its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,851 shares of the biotechnology company’s stock after selling 10,864 shares during the quarter. Principal Financial Group Inc. owned about 0.56% of Corcept Therapeutics worth $12,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CORT. Quadrant Capital Group LLC grew its position in Corcept Therapeutics by 714.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,571 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,378 shares during the last quarter. Altshuler Shaham Ltd grew its position in Corcept Therapeutics by 67.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 2,286 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 922 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Corcept Therapeutics during the 2nd quarter valued at about $76,000. Tower Research Capital LLC TRC grew its position in Corcept Therapeutics by 41.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 1,353 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Corcept Therapeutics by 87.8% during the 1st quarter. Captrust Financial Advisors now owns 6,805 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 3,181 shares during the last quarter. 80.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CORT shares. Piper Sandler started coverage on shares of Corcept Therapeutics in a research report on Tuesday, April 4th. They set an “overweight” rating and a $27.00 price objective on the stock. SVB Securities assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, April 11th. They set a “market perform” rating and a $25.00 price target on the stock. Jefferies Financial Group downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $35.00 to $22.00 in a report on Wednesday, February 15th. StockNews.com assumed coverage on shares of Corcept Therapeutics in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Canaccord Genuity Group dropped their price target on shares of Corcept Therapeutics from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, March 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $27.29.

Corcept Therapeutics Trading Down 0.7 %

NASDAQ CORT opened at $24.52 on Friday. Corcept Therapeutics Incorporated has a 12 month low of $17.86 and a 12 month high of $30.14. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 29.90 and a beta of 0.50. The company’s 50 day moving average is $22.72 and its two-hundred day moving average is $22.64.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its earnings results on Wednesday, May 3rd. The biotechnology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). Corcept Therapeutics had a return on equity of 19.37% and a net margin of 22.79%. The firm had revenue of $105.70 million for the quarter, compared to the consensus estimate of $104.91 million. During the same quarter in the previous year, the business posted $0.20 EPS. Corcept Therapeutics’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.66 EPS for the current year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Gary Charles Robb sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $23.87, for a total transaction of $716,100.00. Following the sale, the insider now owns 33,997 shares in the company, valued at approximately $811,508.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.80% of the stock is owned by company insiders.

Corcept Therapeutics Profile

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Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.