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Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Robeco Institutional Asset Management B.V.

Defense World ·  Jan 14, 2023 06:21

Robeco Institutional Asset Management B.V. cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 15.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,450 shares of the biotechnology company's stock after selling 4,512 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Corcept Therapeutics were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Corcept Therapeutics by 2.5% during the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company's stock valued at $347,366,000 after purchasing an additional 376,774 shares during the period. Renaissance Technologies LLC lifted its position in Corcept Therapeutics by 0.8% during the second quarter. Renaissance Technologies LLC now owns 7,833,871 shares of the biotechnology company's stock valued at $186,289,000 after purchasing an additional 63,355 shares during the period. Federated Hermes Inc. lifted its position in Corcept Therapeutics by 16.8% during the second quarter. Federated Hermes Inc. now owns 5,537,000 shares of the biotechnology company's stock valued at $131,670,000 after purchasing an additional 796,580 shares during the period. State Street Corp lifted its position in Corcept Therapeutics by 2.6% during the second quarter. State Street Corp now owns 3,499,446 shares of the biotechnology company's stock valued at $83,217,000 after purchasing an additional 89,888 shares during the period. Finally, Parallel Advisors LLC lifted its position in Corcept Therapeutics by 39.8% during the second quarter. Parallel Advisors LLC now owns 2,718,328 shares of the biotechnology company's stock valued at $64,642,000 after purchasing an additional 774,009 shares during the period. 80.08% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research firms recently issued reports on CORT. StockNews.com upgraded shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, December 27th. HC Wainwright cut their price objective on shares of Corcept Therapeutics from $33.00 to $30.00 and set a "buy" rating for the company in a report on Friday, December 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.25.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 4,814 shares of the business's stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $26.03, for a total transaction of $125,308.42. Following the completion of the sale, the insider now owns 21,329 shares of the company's stock, valued at $555,193.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sean Maduck sold 25,000 shares of the business's stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $25.57, for a total transaction of $639,250.00. Following the transaction, the insider now directly owns 56,462 shares in the company, valued at $1,443,733.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Charles Robb sold 4,814 shares of the business's stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total transaction of $125,308.42. Following the transaction, the insider now owns 21,329 shares in the company, valued at $555,193.87. The disclosure for this sale can be found here. Insiders sold 40,439 shares of company stock valued at $1,040,958 over the last 90 days. Corporate insiders own 18.60% of the company's stock.

Corcept Therapeutics Stock Performance

CORT opened at $22.44 on Friday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 22.44 and a beta of 0.60. The company has a fifty day moving average of $22.87 and a two-hundred day moving average of $25.49. Corcept Therapeutics Incorporated has a fifty-two week low of $16.47 and a fifty-two week high of $30.14.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its earnings results on Thursday, November 3rd. The biotechnology company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. The business had revenue of $101.73 million during the quarter, compared to analysts' expectations of $107.73 million. Corcept Therapeutics had a net margin of 29.37% and a return on equity of 27.49%. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.89 earnings per share for the current year.

Corcept Therapeutics Profile

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Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

Further Reading

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