Cambridge Investment Research Advisors Inc. Sells 38,021 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 11.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,250 shares of the biotechnology company’s stock after selling 38,021 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.27% of Corcept Therapeutics worth $9,300,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Park Place Capital Corp bought a new position in Corcept Therapeutics during the 2nd quarter valued at approximately $32,000. Atwood & Palmer Inc. bought a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new stake in Corcept Therapeutics in the fourth quarter worth $36,000. GAMMA Investing LLC boosted its holdings in Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Corcept Therapeutics during the 4th quarter valued at $47,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CORT. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. HC Wainwright increased their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.50.

Corcept Therapeutics Stock Down 0.2 %

Shares of CORT opened at $34.60 on Wednesday. The stock has a market cap of $3.60 billion, a P/E ratio of 32.70 and a beta of 0.44. The business’s 50 day moving average price is $33.23 and its 200-day moving average price is $28.39. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $39.75.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $155.14 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.03 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $30.21, for a total transaction of $66,462.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $30.21, for a total transaction of $66,462.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,550 shares of company stock worth $844,469 in the last quarter. Corporate insiders own 20.50% of the company’s stock.

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.