Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 381,800 shares of the biotechnology company's stock after selling 75,300 shares during the quarter. Two Sigma Advisers LP owned approximately 0.36% of Corcept Therapeutics worth $19,239,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CORT. Norges Bank purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth $42,055,000. Braun Stacey Associates Inc. purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth $14,935,000. Synergy Asset Management LLC lifted its stake in shares of Corcept Therapeutics by 131.3% during the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after purchasing an additional 262,503 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth $12,084,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings 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 buying an additional 153,100 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Down 1.5%

NASDAQ CORT traded down $1.16 during trading hours on Tuesday, hitting $77.53. The company had a trading volume of 332,871 shares, compared to its average volume of 1,127,247. Corcept Therapeutics Incorporated has a fifty-two week low of $28.04 and a fifty-two week high of $117.33. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 61.52 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm's 50 day moving average is $71.01 and its 200 day moving average is $62.82.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same period in the prior year, the firm earned $0.25 EPS. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler upped their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a report on Tuesday, May 6th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, HC Wainwright dropped their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.25.

Insider Activity at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the sale, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $70.22, for a total value of $154,484.00. The disclosure for this sale can be found here. In the last three months, insiders sold 296,352 shares of company stock worth $24,908,205. Corporate insiders own 20.80% of the company's stock.

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.