Cerity Partners LLC Has $2.41 Million Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cerity Partners LLC decreased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 85.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,067 shares of the biotechnology company’s stock after selling 436,175 shares during the quarter. Cerity Partners LLC owned 0.07% of Corcept Therapeutics worth $2,406,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CORT. Norges Bank acquired a new position in Corcept Therapeutics during the fourth quarter worth about $15,648,000. Vanguard Group Inc. raised its stake in Corcept Therapeutics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company’s stock worth $264,915,000 after acquiring an additional 458,414 shares in the last quarter. BlackRock Inc. increased its stake in shares of Corcept Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock valued at $347,366,000 after buying an additional 376,774 shares during the period. FMR LLC raised its holdings in Corcept Therapeutics by 102.4% in the 3rd quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock valued at $18,634,000 after buying an additional 346,000 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Corcept Therapeutics by 31.9% in the 3rd quarter. Morgan Stanley now owns 1,225,047 shares of the biotechnology company’s stock valued at $33,376,000 after buying an additional 296,015 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,443 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total transaction of $141,518.00. Following the transaction, the insider now directly owns 7,314 shares in the company, valued at approximately $190,164. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the transaction, the insider now directly owns 74,455 shares in the company, valued at approximately $1,933,596.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,443 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $26.00, for a total transaction of $141,518.00. Following the sale, the insider now owns 7,314 shares of the company’s stock, valued at approximately $190,164. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,783 shares of company stock worth $2,118,996. Corporate insiders own 19.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CORT. Truist Financial upped their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. HC Wainwright reduced their price objective on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $37.30.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $22.66 on Friday. The business’s 50 day simple moving average is $23.93 and its 200 day simple moving average is $25.51. Corcept Therapeutics Incorporated has a one year low of $20.87 and a one year high of $34.28. The stock has a market capitalization of $2.35 billion, a PE ratio of 23.85 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $135.41 million for the quarter, compared to analysts’ expectations of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

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.