Hennion & Walsh Asset Management Inc. Cuts Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Hennion & Walsh Asset Management Inc. cut its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 30.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,122 shares of the biotechnology company’s stock after selling 21,205 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Corcept Therapeutics were worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Corcept Therapeutics during the 3rd quarter worth $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in Corcept Therapeutics during the third quarter valued at about $36,000. USA Financial Formulas bought a new stake in Corcept Therapeutics during the fourth quarter worth about $54,000. GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 85.4% in the 3rd 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 in the last quarter. Finally, KBC Group NV increased its position in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CORT shares. Truist Financial upped their target price on 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 report on Monday, November 25th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $65.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $55.31 on Friday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 43.90 and a beta of 0.56. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The company has a 50-day moving average price of $54.81 and a 200-day moving average price of $44.76.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating 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 business had revenue of $182.55 million during the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the prior year, the company posted $0.28 EPS. Corcept Therapeutics’s quarterly revenue was up 47.7% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other news, insider William Guyer sold 6,606 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $48.97, for a total value of $323,495.82. Following the completion of the sale, the insider now directly owns 5,796 shares of the company’s stock, valued at approximately $283,830.12. This trade represents a 53.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated 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 38,011 shares of company stock worth $1,951,268 over the last quarter. Corporate insiders own 20.50% of the company’s stock.

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.