UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $17.63 Million Stake in Corcept Therapeutics Incorporated $CORT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 6.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 202,743 shares of the biotechnology company’s stock after selling 14,725 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Corcept Therapeutics were worth $17,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of Corcept Therapeutics during the third quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Corcept Therapeutics during the 2nd quarter worth about $27,000. Atlas Capital Advisors Inc. bought a new stake in Corcept Therapeutics during the 4th quarter worth about $31,000. State of Wyoming increased its position in Corcept Therapeutics by 29.5% in the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 524 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling

In other news, Director David Mahoney sold 103,606 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $118.25, for a total value of $12,251,409.50. Following the completion of the transaction, the director owned 1,133,539 shares of the company’s stock, valued at $134,040,986.75. The trade was a 8.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimberly Park sold 26,685 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $122.55, for a total transaction of $3,270,246.75. Following the completion of the sale, the director owned 30,000 shares of the company’s stock, valued at approximately $3,676,500. This represents a 47.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 496,119 shares of company stock worth $54,171,553 over the last ninety days. Insiders own 20.70% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $111.62 on Friday. The stock has a market cap of $12.07 billion, a PE ratio of 265.77 and a beta of 0.45. The stock has a 50-day moving average of $104.13 and a 200-day moving average of $69.89. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The business had revenue of $256.15 million for the quarter, compared to analyst estimates of $221.15 million. During the same quarter last year, the firm earned $0.29 EPS. Corcept Therapeutics’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, August 18th. They issued a “buy” rating and a $164.00 price target for the company. Weiss Ratings upgraded Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Wolfe Research lowered Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research note on Monday, July 27th. HC Wainwright raised their price target on Corcept Therapeutics from $95.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, UBS Group set a $135.00 price objective on Corcept Therapeutics in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $138.17.

Corcept Therapeutics Company 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.