Federated Hermes Inc. Has $54.88 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Federated Hermes Inc. decreased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,689,729 shares of the biotechnology company’s stock after selling 1,645 shares during the period. Federated Hermes Inc. owned 1.64% of Corcept Therapeutics worth $54,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at approximately $4,726,000. Allspring Global Investments Holdings LLC increased its position in shares of Corcept Therapeutics by 351.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,697 shares of the biotechnology company’s stock worth $2,280,000 after buying an additional 65,148 shares during the period. HighTower Advisors LLC bought a new position in Corcept Therapeutics during the third quarter worth $580,000. Illinois Municipal Retirement Fund acquired a new position in Corcept Therapeutics in the third quarter valued at $1,460,000. Finally, Burney Co. boosted its position in Corcept Therapeutics by 40.2% during the third quarter. Burney Co. now owns 401,263 shares of the biotechnology company’s stock valued at $10,932,000 after acquiring an additional 115,006 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CORT has been the subject of several research analyst reports. HC Wainwright lowered their price objective on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. Truist Financial lifted their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and a consensus target price of $37.30.

Insider Buying and Selling at Corcept Therapeutics

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the transaction, the chief accounting officer now owns 6,774 shares in the company, valued at approximately $176,124. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,783 shares of company stock worth $2,118,996. 19.80% of the stock is owned by corporate insiders.

Corcept Therapeutics Stock Performance

CORT stock opened at $22.95 on Friday. The stock’s 50 day simple moving average is $23.93 and its 200 day simple moving average is $25.48. The company has a market cap of $2.38 billion, a P/E ratio of 24.16 and a beta of 0.48. Corcept Therapeutics Incorporated has a fifty-two week low of $20.87 and a fifty-two week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The firm had revenue of $135.41 million during the quarter, compared to the consensus estimate of $129.27 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. Equities analysts predict that Corcept Therapeutics Incorporated will post 0.92 earnings per share for the current year.

Corcept Therapeutics Company 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.