Royce & Associates LP Sells 24,972 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Royce & Associates LP cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 338,300 shares of the biotechnology company's stock after selling 24,972 shares during the quarter. Royce & Associates LP owned approximately 0.32% of Corcept Therapeutics worth $17,047,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Black Diamond Financial LLC boosted its stake in Corcept Therapeutics by 4.0% in the fourth quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after buying an additional 200 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company's stock valued at $1,062,000 after purchasing an additional 270 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 27,270 shares of the biotechnology company's stock valued at $1,374,000 after purchasing an additional 289 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Corcept Therapeutics by 0.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company's stock valued at $2,395,000 after purchasing an additional 368 shares in the last quarter. Finally, Westover Capital Advisors LLC boosted its stake in shares of Corcept Therapeutics by 3.0% during the fourth quarter. Westover Capital Advisors LLC now owns 15,587 shares of the biotechnology company's stock valued at $785,000 after purchasing an additional 456 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

CORT has been the topic of a number of recent research reports. StockNews.com lowered 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 set a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Piper Sandler lifted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their price objective on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.75.

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, February 10th. The stock was sold at an average price of $68.08, for a total value of $149,776.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Trading Down 0.7 %

Shares of Corcept Therapeutics stock traded down $0.41 during midday trading on Thursday, reaching $57.59. The company had a trading volume of 882,520 shares, compared to its average volume of 966,122. The stock has a fifty day moving average price of $61.20 and a 200 day moving average price of $53.48. 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 firm has a market cap of $6.08 billion, a PE ratio of 45.71 and a beta of 0.61. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.