BNP Paribas Financial Markets Has $4.63 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

BNP Paribas Financial Markets lessened its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 46.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,088 shares of the biotechnology company's stock after selling 87,846 shares during the period. BNP Paribas Financial Markets owned approximately 0.10% of Corcept Therapeutics worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company's stock worth $63,122,000 after acquiring an additional 269,074 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Corcept Therapeutics by 4.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 50,996 shares of the biotechnology company's stock worth $2,360,000 after acquiring an additional 2,216 shares during the period. Hancock Whitney Corp increased its position in Corcept Therapeutics by 1.2% during the 3rd quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock worth $1,062,000 after purchasing an additional 270 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $464,000. Finally, Algert Global LLC lifted its stake in Corcept Therapeutics by 216.2% in the 3rd quarter. Algert Global LLC now owns 40,115 shares of the biotechnology company's stock valued at $1,857,000 after purchasing an additional 27,430 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Up 2.7 %

Shares of CORT stock traded up $1.64 during trading hours on Wednesday, hitting $61.31. 372,619 shares of the company's stock traded hands, compared to its average volume of 1,164,601. The stock's 50 day simple moving average is $50.82 and its 200 day simple moving average is $39.61. The stock has a market cap of $6.42 billion, a PE ratio of 47.36 and a beta of 0.51. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company's revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. On average, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, September 30th. StockNews.com downgraded shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 25th. Sandler O'Neill reissued a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $65.25.

Insider Buying and Selling

In related news, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares of the company's stock, valued at $1,053,888.16. This trade represents a 32.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 6,606 shares of Corcept Therapeutics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the transaction, the insider now directly owns 5,796 shares of the company's stock, valued at $283,830.12. This represents a 53.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,611 shares of company stock valued at $1,210,548 over the last quarter. 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.