Evanson Asset Management LLC Lowers Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Evanson Asset Management LLC trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,004 shares of the biotechnology company’s stock after selling 3,706 shares during the period. Evanson Asset Management LLC’s holdings in Corcept Therapeutics were worth $1,007,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CORT. Planned Solutions Inc. purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at $45,000. FNY Investment Advisers LLC bought a new position in Corcept Therapeutics during the 4th quarter valued at about $32,000. SG Americas Securities LLC grew its holdings in Corcept Therapeutics by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 213,810 shares of the biotechnology company’s stock valued at $6,945,000 after purchasing an additional 32,185 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Corcept Therapeutics by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after purchasing an additional 641 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Corcept Therapeutics by 1,313.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 4,312 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 4,007 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the sale, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at approximately $176,124. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,887 shares of company stock valued at $1,308,371. Company insiders own 19.80% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $25.19 on Friday. The company has a market capitalization of $2.61 billion, a P/E ratio of 26.52 and a beta of 0.47. The company’s 50-day simple moving average is $23.34 and its two-hundred day simple moving average is $26.34. Corcept Therapeutics Incorporated has a one year low of $20.87 and a one year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The firm had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. During the same quarter in the prior year, the company earned $0.14 EPS. The company’s revenue was up 31.4% compared to the same quarter last year. On average, research analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CORT has been the topic of several analyst reports. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. HC Wainwright cut their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 13th. Finally, Truist Financial upped their target price on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.79.

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.