Cerity Partners LLC Sells 63,770 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cerity Partners LLC trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,784 shares of the biotechnology company’s stock after selling 63,770 shares during the period. Cerity Partners LLC’s holdings in Corcept Therapeutics were worth $28,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Corcept Therapeutics in the 3rd quarter valued at $25,000. Park Place Capital Corp acquired a new position in shares of Corcept Therapeutics in the second quarter valued at $32,000. Atwood & Palmer Inc. bought a new position in Corcept Therapeutics in the second quarter worth $35,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corcept Therapeutics during the third quarter worth $36,000. Finally, Blue Trust Inc. increased its holdings 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 buying an additional 1,962 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CORT shares. Truist Financial lifted their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $65.25.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Guyer sold 10,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. This trade represents a 62.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,200 shares of company stock worth $1,483,516 over the last 90 days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 2.9 %

Shares of NASDAQ:CORT opened at $57.54 on Monday. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $61.66. The firm has a market cap of $6.03 billion, a P/E ratio of 45.67 and a beta of 0.45. 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’s 50-day moving average price is $48.41 and its two-hundred day moving average price is $38.07.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. As a group, research analysts forecast that Corcept Therapeutics Incorporated will post 1.31 EPS 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.