Bank of New York Mellon Corp Has $29.72 Million Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Bank of New York Mellon Corp trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 589,771 shares of the biotechnology company's stock after selling 15,637 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Corcept Therapeutics worth $29,719,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd purchased a new stake in Corcept Therapeutics during the fourth quarter valued at about $2,117,000. Black Diamond Financial LLC boosted its stake in Corcept Therapeutics by 4.0% in the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock worth $262,000 after purchasing an additional 200 shares during the period. O Neil Global Advisors Inc. purchased a new position in Corcept Therapeutics during the 4th quarter worth approximately $1,701,000. Ieq Capital LLC acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $506,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Stock Down 0.9 %

CORT traded down $0.48 during midday trading on Wednesday, hitting $54.94. 653,237 shares of the company's stock traded hands, compared to its average volume of 1,039,798. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market cap of $5.80 billion, a PE ratio of 43.65 and a beta of 0.61. The stock's fifty day simple moving average is $60.55 and its 200-day simple moving average is $52.71. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00.

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Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released 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). The business had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CORT has been the subject of several research analyst reports. StockNews.com downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research report on Thursday, February 27th. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group upped their price objective 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Corcept Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $99.75.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of the firm's stock in a transaction on 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 approximately $4,299,174.02. This trade represents a 18.99 % 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 business's stock in a transaction on Monday, February 10th. The stock was 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. In the last quarter, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is owned by corporate insiders.

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.