Robeco Institutional Asset Management B.V. Trims Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Robeco Institutional Asset Management B.V. cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 66.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,436 shares of the biotechnology company's stock after selling 12,805 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Corcept Therapeutics were worth $298,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Corcept Therapeutics by 162.2% in the third quarter. US Bancorp DE now owns 19,683 shares of the biotechnology company's stock worth $911,000 after purchasing an additional 12,177 shares in the last quarter. abrdn plc grew its stake in shares of Corcept Therapeutics by 27.1% during the third quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock valued at $30,867,000 after purchasing an additional 142,310 shares during the last quarter. Smith Group Asset Management LLC increased its holdings in shares of Corcept Therapeutics by 25.3% in the third quarter. Smith Group Asset Management LLC now owns 15,256 shares of the biotechnology company's stock valued at $706,000 after purchasing an additional 3,081 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Corcept Therapeutics by 83.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 9,851 shares of the biotechnology company's stock worth $456,000 after purchasing an additional 4,483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Corcept Therapeutics during the 3rd quarter worth $238,000. 93.61% of the stock is owned by institutional investors.

Insider Activity at Corcept Therapeutics

In related news, insider William Guyer sold 3,394 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $48.97, for a total transaction of $166,204.18. Following the completion of the transaction, the insider now directly owns 5,796 shares in the company, valued at $283,830.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider William Guyer sold 3,394 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the sale, the insider now owns 5,796 shares of the company's stock, valued at approximately $283,830.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Charles Robb sold 11,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,101 shares of company stock worth $1,462,517. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Price Performance

NASDAQ CORT traded down $0.54 on Monday, hitting $59.06. 1,220,161 shares of the company's stock were exchanged, compared to its average volume of 1,191,216. The stock has a 50-day moving average of $44.79 and a 200-day moving average of $36.09. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 46.87 and a beta of 0.45. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $61.66.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business's revenue was up 47.7% on a year-over-year basis. Analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CORT shares. Truist Financial boosted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. StockNews.com upgraded shares of Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Sandler O'Neill reaffirmed a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $65.25.

About Corcept Therapeutics

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.