Burney Co. Sells 19,381 Shares of Corcept Therapeutics Incorporated $CORT

Burney Co. lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,765 shares of the biotechnology company’s stock after selling 19,381 shares during the quarter. Burney Co. owned 0.22% of Corcept Therapeutics worth $19,179,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Highland Capital Management LLC bought a new stake in shares of Corcept Therapeutics during the third quarter worth about $209,000. CWM LLC boosted its stake in Corcept Therapeutics by 135.9% during the 3rd quarter. CWM LLC now owns 28,297 shares of the biotechnology company’s stock valued at $2,352,000 after purchasing an additional 16,304 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Corcept Therapeutics by 6,796.7% during the 3rd quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock valued at $32,459,000 after purchasing an additional 384,896 shares during the last quarter. Juncture Wealth Strategies LLC increased its holdings in Corcept Therapeutics by 20.9% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 7,392 shares of the biotechnology company’s stock worth $614,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter worth approximately $137,000. 93.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $145.00 target price on shares of Corcept Therapeutics in a report on Tuesday, November 25th. UBS Group initiated coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Corcept Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $127.20.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $75.36, for a total value of $1,507,200.00. Following the sale, the insider directly owned 5,287 shares in the company, valued at $398,428.32. The trade was a 79.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the transaction, the chief executive officer owned 2,781,370 shares of the company’s stock, valued at $236,638,959.60. The trade was a 1.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 261,700 shares of company stock worth $21,002,348. Insiders own 20.80% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $82.65 on Friday. The company has a market capitalization of $8.69 billion, a P/E ratio of 93.92 and a beta of 0.20. The company’s 50-day moving average is $78.76 and its 200 day moving average is $75.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. Corcept Therapeutics Incorporated has a fifty-two week low of $49.00 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 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 the consensus estimate of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.