Janus Henderson Group PLC Trims Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Janus Henderson Group PLC decreased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 324,017 shares of the biotechnology company's stock after selling 17,793 shares during the quarter. Janus Henderson Group PLC owned 0.31% of Corcept Therapeutics worth $14,996,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics in the third quarter worth $36,000. Blue Trust Inc. increased its stake in shares of Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 1,962 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock valued at $115,000 after purchasing an additional 1,147 shares during the period. Finally, nVerses Capital LLC lifted its stake in shares of Corcept Therapeutics by 62.5% during the 2nd quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company's stock valued at $127,000 after buying an additional 1,500 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Price Performance

Shares of CORT traded up $1.36 during mid-day trading on Friday, hitting $60.78. 538,426 shares of the stock were exchanged, compared to its average volume of 852,772. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company has a market cap of $6.37 billion, a PE ratio of 48.24 and a beta of 0.51. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $62.22. The firm has a 50-day moving average of $51.85 and a two-hundred day moving average of $40.28.

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 analysts' consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Corcept Therapeutics's revenue was up 47.7% on a year-over-year basis. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the sale, the insider now directly owns 22,772 shares in the company, 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 through this hyperlink. Also, insider Joseph Douglas Lyon sold 1,411 shares of Corcept Therapeutics stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total transaction of $80,031.92. Following the transaction, the insider now directly owns 8,494 shares of the company's stock, valued at $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,611 shares of company stock valued at $1,210,548. Insiders own 20.50% of the company's stock.

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.