Corcept Therapeutics Incorporated $CORT Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,892,448 shares of the biotechnology company’s stock after selling 193,069 shares during the period. Dimensional Fund Advisors LP’s holdings in Corcept Therapeutics were worth $157,285,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in Corcept Therapeutics by 163.6% during the 3rd quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $28,000. Hantz Financial Services Inc. lifted its holdings in shares of Corcept Therapeutics by 598.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 395 shares during the period. Huntington National Bank boosted its stake in shares of Corcept Therapeutics by 54.0% in the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 168 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Corcept Therapeutics by 119.2% in the third quarter. Bessemer Group Inc. now owns 629 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling

In related news, insider William Guyer sold 8,233 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $35.99, for a total value of $296,305.67. Following the sale, the insider directly owned 2,231 shares of the company’s stock, valued at approximately $80,293.69. This represents a 78.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 48,233 shares of company stock valued at $1,817,306. 20.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group initiated coverage on Corcept Therapeutics in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 price objective for the company. HC Wainwright lowered their price target on shares of Corcept Therapeutics from $105.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Truist Financial set a $50.00 price target on shares of Corcept Therapeutics in a report on Wednesday, December 31st. Wolfe Research cut shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Wednesday, December 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Corcept Therapeutics presently has an average rating of “Hold” and an average target price of $77.17.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $33.94 on Tuesday. The stock has a fifty day moving average price of $38.67 and a 200 day moving average price of $64.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.85 and a current ratio of 2.92. The stock has a market cap of $3.61 billion, a PE ratio of 41.39 and a beta of 0.29. Corcept Therapeutics Incorporated has a 1 year low of $28.66 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The firm had revenue of $202.13 million during the quarter, compared to analyst estimates of $254.94 million. During the same period last year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.