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

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

Several other large investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its stake in shares of Corcept Therapeutics by 0.6% in the first quarter. QRG Capital Management Inc. now owns 96,923 shares of the biotechnology company's stock worth $11,071,000 after acquiring an additional 558 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Corcept Therapeutics by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock worth $909,000 after purchasing an additional 230 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in Corcept Therapeutics during the 1st quarter worth about $547,000. SG Americas Securities LLC raised its position in Corcept Therapeutics by 285.3% in the 1st quarter. SG Americas Securities LLC now owns 43,109 shares of the biotechnology company's stock valued at $4,924,000 after purchasing an additional 31,922 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $228,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $71.85 on Wednesday. The stock has a 50-day simple moving average of $71.47 and a 200-day simple moving average of $64.53. The company has a market capitalization of $7.62 billion, a P/E ratio of 61.94 and a beta of 0.19. Corcept Therapeutics Incorporated has a fifty-two week low of $28.09 and a fifty-two week high of $117.33.

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

Insider Buying and Selling at Corcept Therapeutics

In related news, CEO Joseph K. Belanoff sold 1,974 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.83, for a total value of $120,078.42. Following the completion of the sale, the chief executive officer now owns 3,017,437 shares in the company, valued at $183,550,692.71. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Douglas Lyon sold 421 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the transaction, the insider now owns 9,009 shares in the company, valued at $545,765.22. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 362,325 shares of company stock worth $30,509,238. 20.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CORT. HC Wainwright cut 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 note on Tuesday, May 6th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. Truist Financial set a $135.00 target price on Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.25.

About Corcept Therapeutics

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.

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