Hennion & Walsh Asset Management Inc. Sells 21,205 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Hennion & Walsh Asset Management Inc. lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 30.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,122 shares of the biotechnology company's stock after selling 21,205 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Corcept Therapeutics were worth $2,425,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. increased its holdings in Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company's stock valued at $56,637,000 after purchasing an additional 352,947 shares during the period. FMR LLC increased its holdings in Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company's stock valued at $63,122,000 after purchasing an additional 269,074 shares during the period. M&G PLC purchased a new position in Corcept Therapeutics during the 3rd quarter valued at about $11,173,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Corcept Therapeutics by 20.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company's stock worth $39,781,000 after acquiring an additional 143,507 shares during the period. Finally, abrdn plc grew its holdings in shares of Corcept Therapeutics by 27.1% during the 3rd quarter. abrdn plc now owns 666,952 shares of the biotechnology company's stock worth $30,867,000 after acquiring an additional 142,310 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

CORT stock opened at $55.31 on Friday. The company has a market cap of $5.80 billion, a P/E ratio of 43.90 and a beta of 0.56. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $62.22. 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 stock's fifty day moving average price is $54.81 and its 200-day moving average price is $44.76.

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, topping 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 the consensus estimate of $171.97 million. During the same period last year, the business posted $0.28 EPS. The company's revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CORT shares. StockNews.com downgraded Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Sandler O'Neill reiterated a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, Truist Financial boosted their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of "Buy" and an average price target of $65.25.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 6,606 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $48.97, for a total transaction of $323,495.82. Following the sale, the insider now directly owns 5,796 shares of the company's stock, valued at $283,830.12. This trade represents a 53.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,011 shares of company stock valued at $1,951,268. 20.50% of the stock is owned by company insiders.

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.