Aviva PLC Decreases Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Aviva PLC cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 36.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,956 shares of the biotechnology company's stock after selling 6,371 shares during the quarter. Aviva PLC's holdings in Corcept Therapeutics were worth $552,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CORT. Stifel Financial Corp raised its stake in Corcept Therapeutics by 30.0% during the third quarter. Stifel Financial Corp now owns 88,967 shares of the biotechnology company's stock valued at $4,117,000 after buying an additional 20,546 shares during the last quarter. State Street Corp raised its position in shares of Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after purchasing an additional 19,893 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Corcept Therapeutics during the 3rd quarter valued at about $302,000. MML Investors Services LLC purchased a new stake in Corcept Therapeutics during the 3rd quarter valued at about $317,000. Finally, Geode Capital Management LLC raised its holdings in Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock worth $110,108,000 after buying an additional 99,470 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. HC Wainwright upped their price target on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Truist Financial upped their target price 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, Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $143.25.

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Corcept Therapeutics Stock Performance

NASDAQ CORT traded down $4.97 during trading hours on Wednesday, hitting $64.62. 1,165,942 shares of the company's stock traded hands, compared to its average volume of 1,125,947. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $6.82 billion, a P/E ratio of 51.29 and a beta of 0.15. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $117.33. The business's fifty day moving average price is $65.73 and its two-hundred day moving average price is $58.04.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share 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 firm had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was 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 $8,608,435.88. This trade represents a 53.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,124 shares of company stock worth $15,117,614. Insiders own 20.50% of the company's stock.

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.