Principal Financial Group Inc. Has $22.94 Million Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Principal Financial Group Inc. lessened its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 495,658 shares of the biotechnology company’s stock after selling 20,770 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Corcept Therapeutics worth $22,939,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics in the 3rd quarter valued at $25,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Corcept Therapeutics in the third quarter valued at $36,000. GAMMA Investing LLC increased its position in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,147 shares in the last quarter. KBC Group NV raised its holdings in shares of Corcept Therapeutics by 21.3% in the 3rd 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 last quarter. Finally, nVerses Capital LLC lifted its position in Corcept Therapeutics by 62.5% in the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This trade represents a 32.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’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 a total of 26,811 shares of company stock worth $1,341,360 over the last ninety days. 20.50% of the stock is currently owned by company insiders.

Corcept Therapeutics Trading Up 2.5 %

NASDAQ CORT opened at $52.17 on Thursday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 41.41 and a beta of 0.51. The business’s fifty day moving average is $54.05 and its 200-day moving average is $42.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share 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 firm had revenue of $182.55 million for the quarter, compared to analysts’ expectations of $171.97 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

About Corcept Therapeutics

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.