Robeco Institutional Asset Management B.V. lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 15.6% during the third quarter, according to the company in its most recent filing 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 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Federated Hermes Inc. boosted its position in Corcept Therapeutics by 16.8% during the 2nd quarter. Federated Hermes Inc. now owns 5,537,000 shares of the biotechnology company's stock valued at $131,670,000 after acquiring an additional 796,580 shares in the last quarter. Parallel Advisors LLC boosted its position in Corcept Therapeutics by 39.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,718,328 shares of the biotechnology company's stock valued at $64,642,000 after acquiring an additional 774,009 shares in the last quarter. BlackRock Inc. boosted its position in Corcept Therapeutics by 2.5% during the 1st quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company's stock valued at $347,366,000 after acquiring an additional 376,774 shares in the last quarter. Franklin Resources Inc. bought a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $6,047,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Corcept Therapeutics by 402.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 266,300 shares of the biotechnology company's stock valued at $6,333,000 after acquiring an additional 213,300 shares in the last quarter. Hedge funds and other institutional investors own 80.08% of the company's stock.
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Shares of CORT opened at $22.44 on Friday. The business's 50 day moving average price is $22.87 and its 200-day moving average price is $25.49. Corcept Therapeutics Incorporated has a 52 week low of $16.47 and a 52 week high of $30.14. The stock has a market cap of $2.42 billion, a P/E ratio of 22.44 and a beta of 0.60.
Corcept Therapeutics (NASDAQ:CORT – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $101.73 million for the quarter, compared to analysts' expectations of $107.73 million. Corcept Therapeutics had a return on equity of 27.49% and a net margin of 29.37%. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 0.89 EPS for the current year.Insider Transactions at Corcept Therapeutics
In other Corcept Therapeutics news, insider Sean Maduck sold 25,000 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total value of $639,250.00. Following the completion of the sale, the insider now owns 56,462 shares in the company, valued at approximately $1,443,733.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gary Charles Robb sold 10,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $26.06, for a total value of $260,600.00. Following the sale, the insider now directly owns 39,544 shares of the company's stock, valued at approximately $1,030,516.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 25,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $25.57, for a total transaction of $639,250.00. Following the completion of the sale, the insider now directly owns 56,462 shares in the company, valued at $1,443,733.34. The disclosure for this sale can be found here. Insiders sold 40,439 shares of company stock worth $1,040,958 in the last three months. Corporate insiders own 18.60% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on CORT. StockNews.com raised 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 Corcept Therapeutics from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, December 9th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of "Buy" and an average target price of $31.25.
Corcept Therapeutics Company 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
- Get a free copy of the StockNews.com research report on Corcept Therapeutics (CORT)
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