Stifel Financial Corp Trims Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Stifel Financial Corp reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,782 shares of the biotechnology company's stock after selling 26,185 shares during the period. Stifel Financial Corp owned approximately 0.06% of Corcept Therapeutics worth $3,164,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Synergy Asset Management LLC grew its holdings in shares of Corcept Therapeutics by 131.3% in the fourth 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 last quarter. Van ECK Associates Corp bought a new stake in Corcept Therapeutics during the fourth quarter worth about $4,483,000. Burney Co. boosted its position in shares of Corcept Therapeutics by 9.1% in the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock worth $23,876,000 after purchasing an additional 39,657 shares in the last quarter. HighTower Advisors LLC increased its position in Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock valued at $4,720,000 after buying an additional 22,011 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Corcept Therapeutics by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock worth $11,712,000 after purchasing an additional 76,573 shares in the last quarter. Institutional investors own 93.61% of the company's stock.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 26,554 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $72.23, for a total value of $1,917,995.42. Following the completion of the transaction, the insider now owns 85,622 shares of the company's stock, valued at $6,184,477.06. This trade represents a 23.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $72.90, for a total value of $2,916,000.00. Following the sale, the chief executive officer now directly owns 2,941,985 shares in the company, valued at $214,470,706.50. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,678 shares of company stock worth $19,951,609. 20.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CORT shares. Piper Sandler upped their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright decreased their price objective on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday. Canaccord Genuity Group lifted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Finally, Truist Financial lifted their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of "Moderate Buy" and an average price target of $142.00.

Corcept Therapeutics Price Performance

Shares of CORT traded down $3.03 during trading hours on Tuesday, hitting $70.91. 1,916,851 shares of the stock were exchanged, compared to its average volume of 1,123,828. Corcept Therapeutics Incorporated has a 12-month low of $23.02 and a 12-month high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock's 50-day moving average price is $65.91 and its two-hundred day moving average price is $60.34. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 56.28 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 24.54% and a net margin of 22.35%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.