Janus Henderson Group PLC Sells 17,793 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Janus Henderson Group PLC trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 324,017 shares of the biotechnology company’s stock after selling 17,793 shares during the period. Janus Henderson Group PLC owned about 0.31% of Corcept Therapeutics worth $14,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CORT. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the third quarter valued at approximately $25,000. Kathleen S. Wright Associates Inc. purchased a new position in Corcept Therapeutics during the 3rd quarter valued at $36,000. Blue Trust Inc. grew its position in Corcept Therapeutics by 125.4% in the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its stake in Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,147 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of Corcept Therapeutics by 62.5% during the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 1,500 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CORT. Piper Sandler upped their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Truist Financial upped their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.25.

Insider Transactions at Corcept Therapeutics

In other news, insider William Guyer sold 3,394 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total transaction of $166,204.18. Following the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $131,736.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,611 shares of company stock valued at $1,210,548 in the last 90 days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $60.78 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 48.24 and a beta of 0.51. The firm has a 50 day moving average of $51.85 and a 200 day moving average of $40.20. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same period in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

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.