Corcept Therapeutics Incorporated $CORT Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 41.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 537,186 shares of the biotechnology company’s stock after selling 387,131 shares during the period. First Trust Advisors LP owned 0.51% of Corcept Therapeutics worth $39,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Corcept Therapeutics in the second quarter valued at about $28,000. Huntington National Bank boosted its position in 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 last quarter. Brooklyn Investment Group increased its holdings in Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after buying an additional 186 shares during the period. Employees Retirement System of Texas acquired a new position in Corcept Therapeutics in the 2nd quarter worth approximately $52,000. Finally, USA Financial Formulas purchased a new position in Corcept Therapeutics during the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the completion of the sale, the insider directly owned 7,904 shares in the company, valued at approximately $628,526.08. The trade was a 71.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Guyer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $80.08, for a total value of $1,601,600.00. Following the completion of the transaction, the insider owned 1,235 shares in the company, valued at approximately $98,898.80. This trade represents a 94.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 261,700 shares of company stock valued at $21,002,348. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $83.15 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The firm has a fifty day moving average of $78.25 and a 200 day moving average of $74.53. The firm has a market cap of $8.75 billion, a PE ratio of 94.49 and a beta of 0.20. Corcept Therapeutics Incorporated has a one year low of $49.00 and a one year high of $117.33.

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

Analysts Set New Price Targets

Several research firms have recently commented on CORT. Wall Street Zen downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $145.00 price target on shares of Corcept Therapeutics in a report on Tuesday, November 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday. Finally, Wolfe Research started coverage on Corcept Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Four 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.com, Corcept Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $135.25.

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.