Roman Butler Fullerton & Co. Trims Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Roman Butler Fullerton & Co. lessened its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 87.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,354 shares of the biotechnology company's stock after selling 23,143 shares during the quarter. Roman Butler Fullerton & Co.'s holdings in Corcept Therapeutics were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CORT. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics during the fourth quarter valued at $27,000. Canada Pension Plan Investment Board acquired a new stake in Corcept Therapeutics during the fourth quarter valued at $40,000. National Bank of Canada FI acquired a new stake in Corcept Therapeutics during the fourth quarter valued at $42,000. Principal Securities Inc. grew its position in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after buying an additional 483 shares during the period. Finally, Gen Wealth Partners Inc acquired a new stake in Corcept Therapeutics during the fourth quarter valued at $67,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

CORT traded up $0.14 on Friday, reaching $71.38. 1,735,082 shares of the company's stock were exchanged, compared to its average volume of 1,135,919. The stock has a market cap of $7.57 billion, a PE ratio of 61.53 and a beta of 0.19. Corcept Therapeutics Incorporated has a twelve month low of $29.42 and a twelve month high of $117.33. The stock's fifty day moving average price is $71.56 and its 200-day moving average price is $64.76.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. The firm had revenue of $157.21 million for the quarter, compared to analyst estimates of $177.93 million. Corcept Therapeutics had a net margin of 19.33% and a return on equity of 20.40%. Corcept Therapeutics's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $72.42, for a total transaction of $1,448,400.00. Following the transaction, the insider now directly owns 5,487 shares of the company's stock, valued at $397,368.54. The trade was a 78.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,325 shares of company stock worth $30,509,238. 20.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CORT shares. Canaccord Genuity Group lifted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. HC Wainwright dropped their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Truist Financial set a $135.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler lifted their target price 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.25.

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.