Cerity Partners LLC Sells 63,770 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cerity Partners LLC lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 611,784 shares of the biotechnology company's stock after selling 63,770 shares during the quarter. Cerity Partners LLC owned approximately 0.58% of Corcept Therapeutics worth $28,313,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CORT. Capital Performance Advisors LLP purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics in the 3rd quarter valued at $36,000. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics in the second quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new stake in Corcept Therapeutics during the 2nd quarter valued at approximately $35,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 1,147 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Up 2.6 %

Shares of NASDAQ:CORT traded up $1.49 during midday trading on Monday, reaching $59.03. The company had a trading volume of 1,501,173 shares, compared to its average volume of 1,179,222. The stock's fifty day moving average price is $48.41 and its 200-day moving average price is $38.07. The stock has a market capitalization of $6.19 billion, a P/E ratio of 46.85 and a beta of 0.45. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. 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 (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CORT. Canaccord Genuity Group reiterated a "buy" rating and issued a $38.00 price target on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Piper Sandler boosted their target price 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. Truist Financial raised their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, September 30th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Finally, Sandler O'Neill reissued a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $65.25.

Insiders Place Their Bets

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now owns 22,772 shares of the company's stock, valued at $1,053,888.16. The trade was a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,200 shares of company stock worth $1,483,516 over the last ninety days. Company insiders own 20.50% of the company's stock.

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.