Cetera Investment Advisers Sells 13,674 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cetera Investment Advisers decreased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 62.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,374 shares of the biotechnology company's stock after selling 13,674 shares during the period. Cetera Investment Advisers' holdings in Corcept Therapeutics were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in CORT. Parallel Advisors LLC increased its position in shares of Corcept Therapeutics by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after acquiring an additional 142,784 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Corcept Therapeutics by 12.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after acquiring an additional 153,100 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Corcept Therapeutics by 10.2% during the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company's stock worth $51,172,000 after acquiring an additional 94,128 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Corcept Therapeutics by 12.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 886,576 shares of the biotechnology company's stock worth $44,675,000 after acquiring an additional 98,512 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Corcept Therapeutics by 1.1% during the 1st quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company's stock worth $70,222,000 after acquiring an additional 6,848 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Down 0.3%

Shares of CORT traded down $0.25 on Friday, hitting $71.75. 692,631 shares of the stock traded hands, compared to its average volume of 861,727. Corcept Therapeutics Incorporated has a 1 year low of $33.34 and a 1 year high of $117.33. The stock's 50 day moving average is $71.22 and its two-hundred day moving average is $69.33. The firm has a market capitalization of $7.56 billion, a P/E ratio of 63.50 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The business had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. During the same period last year, the business earned $0.32 EPS. The business's revenue was up 18.7% on a year-over-year basis. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 35,007 shares of Corcept Therapeutics stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $71.77, for a total value of $2,512,452.39. Following the sale, the insider directly owned 5,487 shares in the company, valued at $393,801.99. This trade represents a 86.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,823 shares of Corcept Therapeutics stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the completion of the sale, the insider owned 10,066 shares in the company, valued at approximately $679,555.66. This represents a 36.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,215 shares of company stock valued at $16,311,201. Corporate insiders own 20.80% of the company's stock.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research reports. Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. HC Wainwright cut their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group decreased their price objective on shares of Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, August 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $134.50.

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.