Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,659 shares of the biotechnology company's stock after selling 2,483 shares during the period. Prudential Financial Inc. owned about 0.09% of Corcept Therapeutics worth $4,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics during the fourth quarter worth $27,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the 4th quarter valued at about $58,000. Principal Securities Inc. boosted its holdings in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after buying an additional 483 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Corcept Therapeutics during the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Down 6.2 %

Shares of CORT stock traded down $4.92 on Friday, hitting $74.45. 2,540,279 shares of the stock traded hands, compared to its average volume of 1,099,324. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. The firm's 50-day moving average price is $64.81 and its two-hundred day moving average price is $56.40. The stock has a market capitalization of $7.85 billion, a PE ratio of 59.09 and a beta of 0.14.

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Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now owns 3,019,411 shares of the company's stock, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,124 shares of company stock worth $15,074,318. Company insiders own 20.50% of the company's stock.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright increased their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Truist Financial raised their price target on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Finally, Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.25.

Corcept Therapeutics Company 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.