Corcept Therapeutics Incorporated (NASDAQ:CORT) Position Reduced by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 57,830 shares of the biotechnology company's stock after selling 42,258 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.06% of Corcept Therapeutics worth $2,914,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $27,000. Canada Pension Plan Investment Board acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $40,000. National Bank of Canada FI acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $42,000. USA Financial Formulas acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics during the fourth quarter valued at approximately $58,000. 93.61% of the stock is currently owned by institutional investors.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 100,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total value of $10,054,000.00. Following the sale, the insider now directly owns 85,622 shares in the company, valued at $8,608,435.88. This represents a 53.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $72.06, for a total value of $158,532.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $20,484,994. 20.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CORT. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright dropped their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Finally, StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $73.36 on Friday. The business has a 50 day simple moving average of $68.17 and a 200 day simple moving average of $61.44. Corcept Therapeutics Incorporated has a 52-week low of $27.30 and a 52-week high of $117.33. 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 stock has a market cap of $7.78 billion, a price-to-earnings ratio of 58.22 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 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 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share 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.

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