Sanctuary Advisors LLC Trims Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Sanctuary Advisors LLC cut its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,353 shares of the biotechnology company’s stock after selling 2,113 shares during the quarter. Sanctuary Advisors LLC’s holdings in Corcept Therapeutics were worth $1,312,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the third quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics in the 3rd quarter valued at $36,000. GAMMA Investing LLC lifted its stake in shares of Corcept Therapeutics by 85.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,147 shares during the period. nVerses Capital LLC boosted its holdings in shares of Corcept Therapeutics by 62.5% during the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 1,500 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $51.40 on Friday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 40.79 and a beta of 0.51. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $62.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock’s 50-day moving average is $53.83 and its 200-day moving average is $41.92.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. During the same quarter last year, the firm posted $0.28 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 47.7% compared to the same quarter last year. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CORT. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler upped their price target 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, Truist Financial increased their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $65.25.

Insider Activity at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the sale, the insider now owns 8,494 shares in the company, valued at $481,779.68. This represents a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’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 value of $131,736.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,811 shares of company stock worth $1,341,360. 20.50% of the stock is currently owned by corporate 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.