Federated Hermes Inc. Cuts Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Federated Hermes Inc. lessened its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,689,729 shares of the biotechnology company’s stock after selling 1,645 shares during the period. Federated Hermes Inc.’s holdings in Corcept Therapeutics were worth $54,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CORT. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Corcept Therapeutics by 51.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,756 shares of the biotechnology company’s stock worth $674,000 after acquiring an additional 7,038 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Corcept Therapeutics in the fourth quarter worth $209,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $625,000. Strs Ohio grew its holdings in shares of Corcept Therapeutics by 585.0% during the fourth quarter. Strs Ohio now owns 13,700 shares of the biotechnology company’s stock valued at $444,000 after buying an additional 11,700 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Corcept Therapeutics in the 4th quarter valued at $1,468,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Trading Up 1.3 %

NASDAQ:CORT opened at $22.95 on Friday. The company has a market cap of $2.38 billion, a P/E ratio of 24.16 and a beta of 0.48. Corcept Therapeutics Incorporated has a twelve month low of $20.87 and a twelve month high of $34.28. The company’s 50-day moving average price is $23.93 and its 200-day moving average price is $25.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $135.41 million for the quarter, compared to analyst estimates of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, analysts expect that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. HC Wainwright lowered their price target on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. StockNews.com cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Truist Financial upped their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and an average price target of $37.30.

Insider Buying and Selling at Corcept Therapeutics

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

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.