BNP Paribas Financial Markets Sells 87,846 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

BNP Paribas Financial Markets cut its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 46.7% in the third quarter, Holdings Channel reports. The institutional investor owned 100,088 shares of the biotechnology company’s stock after selling 87,846 shares during the period. BNP Paribas Financial Markets’ holdings in Corcept Therapeutics were worth $4,632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC acquired a new stake in Corcept Therapeutics in the 1st quarter valued at $340,000. CWM LLC increased its position in shares of Corcept Therapeutics by 46.9% in the second quarter. CWM LLC now owns 4,946 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 1,579 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Corcept Therapeutics by 11.9% during the second quarter. QRG Capital Management Inc. now owns 83,511 shares of the biotechnology company’s stock worth $2,713,000 after acquiring an additional 8,891 shares in the last quarter. SG Americas Securities LLC boosted its position in Corcept Therapeutics by 19.8% during the second quarter. SG Americas Securities LLC now owns 8,184 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 1,353 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Corcept Therapeutics by 27.3% in the second quarter. Sound Income Strategies LLC now owns 6,315 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 1,356 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, insider William Guyer sold 3,394 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the transaction, the insider now directly owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. This trade represents a 36.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The disclosure for this sale can be found here. Insiders have sold 24,611 shares of company stock worth $1,210,548 in the last 90 days. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 0.8 %

Shares of CORT opened at $59.67 on Wednesday. The firm has a market cap of $6.25 billion, a P/E ratio of 47.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $61.66. The firm’s 50-day simple moving average is $50.82 and its 200 day simple moving average is $39.61.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CORT shares. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial boosted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Company 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.