Cerity Partners LLC Has $54.80 Million Stock Holdings in Corcept Therapeutics Incorporated $CORT

Cerity Partners LLC raised its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 21.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 746,593 shares of the biotechnology company’s stock after purchasing an additional 131,799 shares during the period. Cerity Partners LLC’s holdings in Corcept Therapeutics were worth $54,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at about $28,000. Huntington National Bank boosted its holdings in Corcept Therapeutics by 54.0% in the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 168 shares in the last quarter. Brooklyn Investment Group grew its stake in Corcept Therapeutics by 99.5% in the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 186 shares during the period. Employees Retirement System of Texas bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $52,000. Finally, USA Financial Formulas bought a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $56,000. Institutional investors own 93.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CORT shares. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 1st. Canaccord Genuity Group reissued a “buy” rating and set a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Finally, Wolfe Research began coverage on shares of Corcept Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $135.25.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $73.99, for a total transaction of $1,479,800.00. Following the sale, the insider directly owned 7,904 shares in the company, valued at approximately $584,816.96. This trade represents a 71.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,781,370 shares in the company, valued at approximately $236,638,959.60. This represents a 1.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 263,900 shares of company stock worth $21,161,738 in the last 90 days. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ CORT opened at $86.11 on Monday. The company has a fifty day moving average price of $78.27 and a 200-day moving average price of $74.45. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 97.85 and a beta of 0.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07. Corcept Therapeutics Incorporated has a 1 year low of $49.00 and a 1 year high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The firm had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Corcept Therapeutics Profile

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.