Corcept Therapeutics Incorporated (NASDAQ:CORT) Stock Holdings Lessened by Cetera Investment Advisers

Cetera Investment Advisers reduced its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 18.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,048 shares of the biotechnology company’s stock after selling 5,043 shares during the quarter. Cetera Investment Advisers’ holdings in Corcept Therapeutics were worth $1,111,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in Corcept Therapeutics in the 4th quarter valued at about $42,055,000. Braun Stacey Associates Inc. bought a new stake in Corcept Therapeutics in the 4th quarter valued at about $14,935,000. Synergy Asset Management LLC lifted its position in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Corcept Therapeutics in the 4th quarter valued at about $12,084,000. Finally, Vanguard Group Inc. lifted its position in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock valued at $509,726,000 after purchasing an additional 109,294 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CORT. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Canaccord Genuity Group lifted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $138.25.

Corcept Therapeutics Stock Up 0.4%

CORT stock opened at $76.09 on Friday. Corcept Therapeutics Incorporated has a 52 week low of $27.30 and a 52 week high of $117.33. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 60.39 and a beta of 0.22. The firm’s 50-day moving average is $70.15 and its two-hundred day moving average is $62.38. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $157.21 million for the quarter, compared to the consensus estimate of $177.93 million. During the same period in the previous year, the firm earned $0.25 EPS. Corcept Therapeutics’s revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $70.22, for a total value of $154,484.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 296,352 shares of company stock valued at $24,908,205 in the last quarter. Insiders own 20.80% of the company’s stock.

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.