UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,352 shares of the biotechnology company's stock after selling 18,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Corcept Therapeutics worth $9,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Corcept Therapeutics by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,676,335 shares of the biotechnology company's stock worth $86,952,000 after buying an additional 108,658 shares in the last quarter. FMR LLC lifted its holdings in Corcept Therapeutics by 24.6% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Corcept Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company's stock valued at $47,506,000 after purchasing an additional 53,191 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Corcept Therapeutics by 20.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company's stock valued at $39,781,000 after purchasing an additional 143,507 shares in the last quarter. Finally, abrdn plc lifted its holdings in Corcept Therapeutics by 27.1% in the 3rd 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 in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Down 2.5 %

CORT traded down $1.52 on Monday, reaching $59.26. 1,448,380 shares of the company's stock were exchanged, compared to its average volume of 1,163,149. The company's 50 day moving average is $52.11 and its 200-day moving average is $40.50. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 47.03 and a beta of 0.51. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $62.22. 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 (NASDAQ:CORT - Get Free Report) last posted its 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. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company's revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the completion of the sale, the insider now directly owns 8,494 shares of the company's stock, valued at $481,779.68. This trade represents a 14.25 % decrease in their position. 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. 20.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CORT. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial increased their price objective 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, StockNews.com lowered shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $65.25.

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.