Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,666 shares of the biotechnology company’s stock after selling 5,839 shares during the quarter. HighTower Advisors LLC owned 0.07% of Corcept Therapeutics worth $3,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the third quarter valued at $25,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Corcept Therapeutics in the third quarter worth about $36,000. Blue Trust Inc. lifted its stake in shares of Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 worth $115,000 after buying an additional 1,147 shares in the last quarter. Finally, nVerses Capital LLC lifted its stake in shares of Corcept Therapeutics by 62.5% in the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the subject of several recent analyst reports. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Truist Financial upped their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler upped their target price 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, HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Buy” and a consensus price target of $65.25.

Insiders Place Their Bets

In related news, insider William Guyer sold 3,394 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the sale, 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 at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on 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 26,811 shares of company stock valued at $1,341,360 in the last ninety days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Down 6.2 %

Shares of Corcept Therapeutics stock opened at $56.33 on Friday. The firm has a fifty day moving average of $52.86 and a two-hundred day moving average of $40.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $5.90 billion, a P/E ratio of 44.70 and a beta of 0.51. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $62.22.

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