UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 18,179 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,352 shares of the biotechnology company’s stock after selling 18,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Corcept Therapeutics worth $9,365,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics in the third quarter worth $25,000. Kathleen S. Wright Associates Inc. bought a new stake in Corcept Therapeutics during the third quarter valued at about $36,000. GAMMA Investing LLC lifted its position in shares of Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,147 shares in the last quarter. KBC Group NV boosted its stake in shares of Corcept Therapeutics by 21.3% in the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 496 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Corcept Therapeutics by 125.4% during the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,962 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the transaction, the insider now owns 8,494 shares in the company, valued at $481,779.68. The trade was a 14.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Insiders sold a total of 24,611 shares of company stock worth $1,210,548 over the last three months. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $60.78 on Monday. The company’s 50-day moving average price is $51.85 and its 200-day moving average price is $40.28. 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 company has a market cap of $6.37 billion, a PE ratio of 48.24 and a beta of 0.51. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $182.55 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.28 earnings per share. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.35 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.