Amalgamated Bank Cuts Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Amalgamated Bank trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,029 shares of the biotechnology company’s stock after selling 606 shares during the quarter. Amalgamated Bank’s holdings in Corcept Therapeutics were worth $1,251,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CORT. Oak Ridge Investments LLC acquired a new position in Corcept Therapeutics during the second quarter valued at approximately $984,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Corcept Therapeutics by 190.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after acquiring an additional 43,809 shares in the last quarter. US Bancorp DE increased its holdings in Corcept Therapeutics by 6,252.3% in the 1st quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 24,884 shares in the last quarter. Milestone Asset Management LLC raised its position in Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after purchasing an additional 16,593 shares during the period. Finally, Vanguard Group Inc. raised its position in Corcept Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after purchasing an additional 28,250 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Piper Sandler raised their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Finally, StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $65.25.

Insider Transactions at Corcept Therapeutics

In other news, insider Gary Charles Robb sold 3,101 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the transaction, the insider now owns 23,190 shares in the company, valued at approximately $828,114.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the transaction, the insider now directly owns 23,190 shares in the company, valued at approximately $828,114.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Guyer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,301 shares of company stock valued at $1,594,253. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $56.45 on Thursday. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 44.80 and a beta of 0.45. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $45.70 and its two-hundred day moving average is $36.48. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. Analysts forecast that Corcept Therapeutics Incorporated will post 1.31 EPS for the current fiscal year.

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.