Dimensional Fund Advisors LP Reduces Holdings in Corcept Therapeutics Incorporated $CORT

Key Points

• Dimensional Fund Advisors cut its stake in Corcept Therapeutics by 9.3% in Q3, holding 1,892,448 shares (about 1.8% of the company) valued at roughly $157.3 million after selling 193,069 shares.
• Corcept missed its latest quarter, reporting EPS of $0.20 versus $0.33 expected and revenue of $202.13M versus $254.94M expected, and the stock is trading well below its 200‑day moving average (around $64.13) at roughly $33.94.
• Analyst sentiment is mixed: the consensus rating is a Hold with an average price target of $77.17, but several firms have downgraded the stock (e.g., Wolfe to "underperform" with a $30 target and Zacks to "strong sell").

Dimensional Fund Advisors LP cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 9.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,892,448 shares of the biotechnology company's stock after selling 193,069 shares during the period. Dimensional Fund Advisors LP owned about 1.80% of Corcept Therapeutics worth $157,285,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Clearstead Advisors LLC grew its holdings in shares of Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company's stock worth $26,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at about $28,000. Huntington National Bank boosted its position in shares of Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 168 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Corcept Therapeutics by 598.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 395 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in Corcept Therapeutics during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CORT. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Corcept Therapeutics in a research report on Monday, December 29th. Wolfe Research lowered shares of Corcept Therapeutics from a "peer perform" rating to an "underperform" rating and set a $30.00 target price on the stock. in a research report on Wednesday, December 31st. Zacks Research cut shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 13th. HC Wainwright reduced their price target on shares of Corcept Therapeutics from $105.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Finally, UBS Group started coverage on shares of Corcept Therapeutics in a research note on Tuesday, December 16th. They set a "neutral" rating and a $95.00 price target for the company. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $77.17.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $33.94 on Tuesday. The stock's 50-day moving average price is $38.67 and its 200 day moving average price is $64.13. The company has a quick ratio of 2.85, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.61 billion, a PE ratio of 41.39 and a beta of 0.29. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.13). Corcept Therapeutics had a return on equity of 15.19% and a net margin of 12.96%.The company had revenue of $202.13 million for the quarter, compared to analyst estimates of $254.94 million. During the same period in the previous year, the business posted $0.26 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, equities 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 8,233 shares of Corcept Therapeutics stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $35.99, for a total value of $296,305.67. Following the transaction, the insider directly owned 2,231 shares in the company, valued at $80,293.69. This trade represents a 78.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 48,233 shares of company stock worth $1,817,306 over the last three months. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics 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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