Corcept Therapeutics Incorporated $CORT Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 17.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,305 shares of the biotechnology company’s stock after selling 20,057 shares during the quarter. American Century Companies Inc. owned 0.09% of Corcept Therapeutics worth $6,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CORT. Golden State Wealth Management LLC bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $28,000. Huntington National Bank lifted its stake in shares of Corcept Therapeutics by 54.0% in the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 168 shares during the period. Brooklyn Investment Group increased its position in shares of Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 186 shares during the period. USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the 2nd quarter worth about $56,000. Finally, Farther Finance Advisors LLC boosted its holdings in Corcept Therapeutics by 277.6% during the second quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 669 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the topic of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Wolfe Research assumed coverage on shares of Corcept Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 1st. HC Wainwright reiterated a “buy” rating and issued a $145.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, November 25th. Finally, Zacks Research lowered Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Corcept Therapeutics presently has an average rating of “Hold” and a consensus target price of $135.25.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $86.11 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $49.00 and a 1 year high of $117.33. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $78.27 and its 200-day moving average is $74.46. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 97.85 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The company had revenue of $207.64 million during the quarter, compared to analyst estimates of $223.78 million. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.53, for a total value of $397,650.00. Following the transaction, the insider owned 10,277 shares in the company, valued at $817,329.81. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.77, for a total value of $3,190,800.00. Following the completion of the sale, the chief executive officer owned 2,701,370 shares of the company’s stock, valued at approximately $215,488,284.90. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 263,900 shares of company stock valued at $21,161,738 over the last quarter. Corporate 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.