Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,738 shares of the biotechnology company’s stock after selling 3,879 shares during the period. ProShare Advisors LLC’s holdings in Corcept Therapeutics were worth $414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Corcept Therapeutics by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 510 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock worth $4,138,000 after buying an additional 541 shares in the last quarter. GAMMA Investing LLC grew its stake in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares during the last quarter. Quest Partners LLC increased its holdings in Corcept Therapeutics by 23.2% during the 2nd quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 992 shares in the last quarter. Finally, Park Place Capital Corp acquired a new position in Corcept Therapeutics during the second quarter worth about $32,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CORT shares. Truist Financial raised their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright boosted their price target on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $56.50.

Corcept Therapeutics Stock Up 1.0 %

Shares of Corcept Therapeutics stock opened at $46.75 on Wednesday. The firm has a market cap of $4.87 billion, a PE ratio of 44.10 and a beta of 0.45. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $47.71. The business’s fifty day moving average is $36.63 and its two-hundred day moving average is $30.93.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The firm had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the transaction, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the sale, the insider now owns 23,190 shares of the company’s stock, valued at approximately $828,114.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,251 shares of company stock valued at $1,365,292. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics 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.