Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 495,658 shares of the biotechnology company’s stock after selling 20,770 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Corcept Therapeutics worth $22,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth about $18,426,000. Jupiter Asset Management Ltd. lifted its position in Corcept Therapeutics by 1,149.0% in the first quarter. Jupiter Asset Management Ltd. now owns 744,469 shares of the biotechnology company’s stock valued at $18,753,000 after acquiring an additional 684,863 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Corcept Therapeutics in the first quarter valued at $14,670,000. M&G PLC purchased a new position in shares of Corcept Therapeutics during the third quarter worth about $11,173,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Corcept Therapeutics by 482.6% in the 1st quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after purchasing an additional 219,551 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Down 2.3 %

CORT stock opened at $56.45 on Thursday. 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’s 50-day moving average price is $45.70 and its 200 day moving average price is $36.48. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $61.66. The company has a market cap of $5.91 billion, a P/E ratio of 44.80 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $171.97 million. During the same quarter in the previous year, the company earned $0.28 EPS. The company’s quarterly revenue was up 47.7% on a year-over-year basis. On average, research analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CORT has been the topic of a number of research reports. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a report on Tuesday, July 30th. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Truist Financial boosted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the sale, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,301 shares of company stock valued at $1,594,253. 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.