Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,048 shares of the biotechnology company's stock after selling 5,043 shares during the quarter. Cetera Investment Advisers' holdings in Corcept Therapeutics were worth $1,111,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CORT. Kestra Investment Management LLC purchased a new position in Corcept Therapeutics during the 4th quarter valued at about $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the 4th quarter valued at approximately $58,000. Finally, Principal Securities Inc. grew its stake in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 483 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CORT shares. Wall Street Zen cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright reduced their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Piper Sandler increased their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.25.

Corcept Therapeutics Stock Up 1.2%

Shares of NASDAQ CORT traded up $0.90 during midday trading on Wednesday, hitting $77.71. 141,945 shares of the company's stock were exchanged, compared to its average volume of 1,362,808. The firm's fifty day simple moving average is $71.39 and its 200-day simple moving average is $62.91. The company has a market cap of $8.24 billion, a PE ratio of 61.72 and a beta of 0.22. Corcept Therapeutics Incorporated has a twelve month low of $28.04 and a twelve month high of $117.33. 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 (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares in the company, valued at $183,912,324.01. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 32,262 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $74.17, for a total value of $2,392,872.54. Following the sale, the insider now owns 5,487 shares of the company's stock, valued at $406,970.79. This represents a 85.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 296,352 shares of company stock valued at $24,908,205 over the last ninety days. Corporate insiders own 20.50% of the company's stock.

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.