Handelsbanken Fonder AB Sells 3,000 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Handelsbanken Fonder AB lessened its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,981 shares of the biotechnology company’s stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Corcept Therapeutics were worth $1,410,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after buying an additional 19,893 shares during the last quarter. Geode Capital Management LLC increased its holdings in Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after acquiring an additional 99,470 shares during the last quarter. FMR LLC lifted its stake in Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after purchasing an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Corcept Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock valued at $47,506,000 after purchasing an additional 53,191 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $63.37 on Thursday. The firm has a market capitalization of $6.64 billion, a PE ratio of 50.29 and a beta of 0.58. The stock’s fifty day moving average is $59.60 and its 200 day moving average is $51.16. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

CORT has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Friday, February 7th. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.25.

Insider Activity

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. This represents a 18.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on 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 90 days, insiders have sold 26,600 shares of company stock valued at $1,399,576. 20.50% of the stock is currently owned by insiders.

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.