Epoch Investment Partners Inc. Lowers Position in Corcept Therapeutics Incorporated $CORT

Epoch Investment Partners Inc. cut its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 816,652 shares of the biotechnology company’s stock after selling 30,452 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Corcept Therapeutics were worth $28,419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Avidity Partners Management LP bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $766,000. Bridge City Capital LLC raised its holdings in Corcept Therapeutics by 53.7% during the fourth quarter. Bridge City Capital LLC now owns 29,535 shares of the biotechnology company’s stock valued at $1,028,000 after acquiring an additional 10,324 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics during the fourth quarter valued at about $31,000. The Manufacturers Life Insurance Company raised its holdings in Corcept Therapeutics by 4.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 22,139 shares of the biotechnology company’s stock valued at $770,000 after acquiring an additional 903 shares during the period. Finally, Morgan Stanley raised its holdings in Corcept Therapeutics by 34.1% during the fourth quarter. Morgan Stanley now owns 1,592,059 shares of the biotechnology company’s stock valued at $55,404,000 after acquiring an additional 405,081 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $82.91 on Monday. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $91.00. The stock’s 50-day moving average price is $55.70 and its 200-day moving average price is $52.08. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 236.89 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. During the same period last year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 0.62 EPS for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the sale, the insider directly owned 6,230 shares of the company’s stock, valued at $404,950. The trade was a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Maduck sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $70.21, for a total value of $1,755,250.00. Following the sale, the insider directly owned 8,977 shares in the company, valued at $630,275.17. The trade was a 73.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 242,965 shares of company stock valued at $14,802,964 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group set a $135.00 price target on Corcept Therapeutics in a report on Thursday, May 28th. Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler raised their price target on Corcept Therapeutics from $73.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, May 1st. HC Wainwright raised their price target on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Truist Financial raised Corcept Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.