Royce & Associates LP Has $17.05 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Royce & Associates LP lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 338,300 shares of the biotechnology company’s stock after selling 24,972 shares during the quarter. Royce & Associates LP’s holdings in Corcept Therapeutics were worth $17,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORT. Kestra Investment Management LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $27,000. USA Financial Formulas bought a new stake in Corcept Therapeutics in the fourth quarter valued at $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics in the fourth quarter valued at $58,000. Principal Securities Inc. raised its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 483 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Corcept Therapeutics by 311.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,371 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 1,795 shares during the period. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $56.01 on Monday. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00. 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 firm’s 50 day moving average is $60.84 and its 200-day moving average is $53.14. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 44.45 and a beta of 0.61.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CORT shares. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Piper Sandler raised their price objective on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Corcept Therapeutics in a report on Thursday, February 27th. Finally, StockNews.com cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the transaction, the insider now directly owns 85,318 shares in the company, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,627 shares of company stock valued at $2,557,674 over the last 90 days. 20.50% of the stock is owned by company insiders.

About Corcept Therapeutics

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.