Franklin Resources Inc. lowered its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 6.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 239,115 shares of the biotechnology company’s stock after selling 15,226 shares during the period. Franklin Resources Inc. owned 0.22% of Corcept Therapeutics worth $4,856,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CORT. Quadrant Capital Group LLC lifted its position in Corcept Therapeutics by 714.0% during the third quarter. Quadrant Capital Group LLC now owns 1,571 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 1,378 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in Corcept Therapeutics by 67.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 2,286 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 922 shares during the last quarter. Quantbot Technologies LP bought a new stake in Corcept Therapeutics in the 2nd quarter valued at $76,000. Tower Research Capital LLC TRC grew its holdings in Corcept Therapeutics by 41.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 1,353 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in Corcept Therapeutics during the 4th quarter worth $138,000. Institutional investors and hedge funds own 80.08% of the company’s stock.
Insider Activity
In other Corcept Therapeutics news, insider Gary Charles Robb sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $23.87, for a total value of $716,100.00. Following the completion of the transaction, the insider now owns 33,997 shares of the company’s stock, valued at approximately $811,508.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.80% of the stock is owned by corporate insiders.
Corcept Therapeutics Stock Up 1.3 %
Corcept Therapeutics (NASDAQ:CORT – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $105.70 million for the quarter, compared to the consensus estimate of $104.91 million. Corcept Therapeutics had a net margin of 22.79% and a return on equity of 19.37%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 0.62 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Corcept Therapeutics in a research note on Wednesday, March 1st. SVB Securities initiated coverage on Corcept Therapeutics in a research note on Tuesday, April 11th. They issued a “market perform” rating and a $25.00 price target for the company. Jefferies Financial Group lowered Corcept Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $35.00 to $22.00 in a research note on Wednesday, February 15th. StockNews.com began coverage on Corcept Therapeutics in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Piper Sandler assumed coverage on Corcept Therapeutics in a research report on Tuesday, April 4th. They issued an “overweight” rating and a $27.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $26.71.
About Corcept Therapeutics
Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.
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