Corcept Therapeutics Incorporated $CORT Shares Sold by Bokf Na

Bokf Na cut its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 49.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,163 shares of the biotechnology company’s stock after selling 11,775 shares during the quarter. Bokf Na’s holdings in Corcept Therapeutics were worth $1,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CORT. Motley Fool Asset Management LLC bought a new stake in shares of Corcept Therapeutics during the third quarter valued at about $403,000. Brucke Financial Inc. bought a new position in shares of Corcept Therapeutics in the third quarter valued at approximately $240,000. Signaturefd LLC grew its stake in Corcept Therapeutics by 30.6% during the third quarter. Signaturefd LLC now owns 1,375 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 322 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Corcept Therapeutics by 56.6% during the third quarter. Citizens Financial Group Inc. RI now owns 6,259 shares of the biotechnology company’s stock valued at $721,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new position in Corcept Therapeutics during the third quarter valued at approximately $267,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Stock Down 5.6%

CORT opened at $81.12 on Friday. The stock has a market cap of $8.77 billion, a PE ratio of 193.15 and a beta of 0.40. Corcept Therapeutics Incorporated has a 52 week low of $28.66 and a 52 week high of $126.38. The business’s fifty day simple moving average is $111.98 and its 200 day simple moving average is $74.62.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.34. The firm had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. Corcept Therapeutics had a return on equity of 8.26% and a net margin of 6.52%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.83 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In related news, Director Kimberly Park sold 26,685 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $122.55, for a total value of $3,270,246.75. Following the completion of the sale, the director owned 30,000 shares in the company, valued at $3,676,500. The trade was a 47.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Roberto Vieira sold 58,333 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $110.76, for a total value of $6,460,963.08. Following the completion of the sale, the insider directly owned 4,242 shares of the company’s stock, valued at approximately $469,843.92. This represents a 93.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 374,748 shares of company stock worth $43,609,410 in the last quarter. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CORT. Truist Financial started coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They issued a “buy” rating and a $164.00 target price on the stock. Zacks Research lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. HC Wainwright reiterated a “buy” rating and issued a $165.00 price objective on shares of Corcept Therapeutics in a research report on Friday, September 18th. Finally, Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.