Corcept Therapeutics Incorporated $CORT Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH cut its Corcept stake by 70.8% in Q4, selling 46,068 shares and leaving 19,000 shares valued at about $661,000.
• Several analysts have raised price targets (e.g., Piper Sandler to $88, Canaccord to $110) and the stock carries a consensus rating of Moderate Buy with an average target of $74.67.
• Insider activity is notable: director G. Leonard Baker Jr. purchased 100,000 shares at $33.14 (~$3.31M), increasing his holding to 1,146,631 shares, while insiders overall sold 66,198 shares (~$2.85M) over the last 90 days.

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 70.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,000 shares of the biotechnology company's stock after selling 46,068 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Corcept Therapeutics were worth $661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in Corcept Therapeutics by 18.9% during the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company's stock worth $1,757,000 after buying an additional 2,444 shares during the period. Amundi purchased a new position in shares of Corcept Therapeutics in the first quarter valued at $450,000. NewEdge Advisors LLC purchased a new position in shares of Corcept Therapeutics in the first quarter valued at $518,000. EverSource Wealth Advisors LLC boosted its stake in shares of Corcept Therapeutics by 273.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company's stock valued at $106,000 after purchasing an additional 1,055 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Corcept Therapeutics by 795.3% in the second quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company's stock valued at $3,391,000 after purchasing an additional 41,040 shares during the period. Institutional investors and hedge funds own 93.61% of the company's stock.

Analysts Set New Price Targets

CORT has been the subject of several analyst reports. Piper Sandler upped their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. HC Wainwright upped their target price on shares of Corcept Therapeutics from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Monday. Wolfe Research upgraded shares of Corcept Therapeutics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, March 26th. Finally, Truist Financial upgraded shares of Corcept Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $74.67.

Corcept Therapeutics Stock Up 0.4%

Shares of CORT opened at $51.60 on Tuesday. The firm has a 50-day moving average price of $39.14 and a 200 day moving average price of $54.36. The firm has a market capitalization of $5.54 billion, a PE ratio of 147.43 and a beta of 0.36. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $91.00.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The company had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 0.23 EPS for the current year.

Insiders Place Their Bets

In other news, Director G Leonard Baker, Jr. bought 100,000 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was bought at an average cost of $33.14 per share, for a total transaction of $3,314,000.00. Following the completion of the acquisition, the director directly owned 1,146,631 shares in the company, valued at $37,999,351.34. This represents a 9.55% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 20,000 shares of the firm's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $40.97, for a total transaction of $819,400.00. Following the completion of the transaction, the insider owned 2,231 shares of the company's stock, valued at approximately $91,404.07. The trade was a 89.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,198 shares of company stock worth $2,851,169 over the last ninety days. 20.80% of the stock is currently owned by company insiders.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company's scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company's flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing's syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.

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