Yousif Capital Management LLC Sells 6,360 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Yousif Capital Management LLC lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,719 shares of the biotechnology company’s stock after selling 6,360 shares during the period. Yousif Capital Management LLC’s holdings in Corcept Therapeutics were worth $950,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Corcept Therapeutics by 0.5% in the 1st quarter. Barclays PLC now owns 85,961 shares of the biotechnology company’s stock worth $1,862,000 after purchasing an additional 427 shares during the period. Sei Investments Co. increased its holdings in Corcept Therapeutics by 3.0% in the 2nd quarter. Sei Investments Co. now owns 14,565 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 427 shares in the last quarter. Campbell Newman Asset Management Inc. increased its holdings in Corcept Therapeutics by 1.0% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 48,645 shares of the biotechnology company’s stock worth $1,054,000 after acquiring an additional 459 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Corcept Therapeutics by 7.0% in the 4th quarter. Mackenzie Financial Corp now owns 11,697 shares of the biotechnology company’s stock worth $238,000 after acquiring an additional 766 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Corcept Therapeutics by 0.7% in the 4th quarter. Voya Investment Management LLC now owns 116,132 shares of the biotechnology company’s stock worth $2,359,000 after acquiring an additional 791 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT opened at $25.62 on Monday. The company has a 50 day simple moving average of $29.84 and a two-hundred day simple moving average of $26.53. Corcept Therapeutics Incorporated has a 1 year low of $17.86 and a 1 year high of $34.28. The firm has a market cap of $2.63 billion, a P/E ratio of 31.63 and a beta of 0.43.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. Corcept Therapeutics had a net margin of 20.20% and a return on equity of 18.76%. The company had revenue of $123.60 million for the quarter, compared to analysts’ expectations of $119.71 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. Corcept Therapeutics’s quarterly revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on CORT. LADENBURG THALM/SH SH increased their target price on shares of Corcept Therapeutics from $44.00 to $47.50 in a report on Thursday, August 3rd. Truist Financial reissued a “hold” rating and issued a $29.00 target price on shares of Corcept Therapeutics in a report on Monday, October 2nd. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.06.

Insider Buying and Selling

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $32.90, for a total value of $72,380.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $32.90, for a total transaction of $72,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph Douglas Lyon sold 4,588 shares of Corcept Therapeutics stock in a transaction on Monday, August 21st. The stock was sold at an average price of $31.19, for a total transaction of $143,099.72. Following the transaction, the chief accounting officer now directly owns 5,132 shares of the company’s stock, valued at $160,067.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,282 shares of company stock worth $3,842,568. Insiders own 19.80% of the company’s stock.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe metabolic, oncologic, endocrine, and neurological disorders in the United States. It offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.