Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 706,133 shares of the biotechnology company’s stock after selling 151,225 shares during the quarter. Invesco Ltd. owned 0.67% of Corcept Therapeutics worth $35,582,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Corcept Therapeutics during the fourth quarter valued at approximately $42,055,000. Braun Stacey Associates Inc. purchased a new stake in Corcept Therapeutics during the 4th quarter worth $14,935,000. Synergy Asset Management LLC lifted its holdings in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after buying an additional 262,503 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Corcept Therapeutics in the 4th quarter valued at about $12,084,000. Finally, Vanguard Group Inc. grew its stake in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock valued at $509,726,000 after acquiring an additional 109,294 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares in the company, valued at approximately $8,608,435.88. This represents a 53.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,124 shares of company stock valued at $15,117,614. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $64.60 on Thursday. The stock has a market capitalization of $6.82 billion, a PE ratio of 51.27 and a beta of 0.15. The business’s fifty day moving average price is $65.66 and its 200 day moving average price is $58.08. 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 Incorporated has a 12-month low of $20.84 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

CORT has been the subject of a number of analyst reports. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Piper Sandler increased their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Canaccord Genuity Group lifted their price target 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. Truist Financial increased their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Finally, HC Wainwright boosted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.25.

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.