KCM Investment Advisors LLC Reduces Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

KCM Investment Advisors LLC lowered its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 4.8% during the fourth quarter, Holdings Channel reports. The firm owned 54,655 shares of the biotechnology company’s stock after selling 2,771 shares during the period. KCM Investment Advisors LLC’s holdings in Corcept Therapeutics were worth $2,754,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CORT. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics during the 4th quarter worth $27,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics during the fourth quarter worth about $42,000. USA Financial Formulas purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $54,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Corcept Therapeutics in the 4th quarter valued at about $58,000. Finally, Principal Securities Inc. grew its stake in Corcept Therapeutics by 63.6% during the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after buying an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Maduck sold 18,303 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at $5,196,399.18. The trade was a 17.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,124 shares of company stock worth $15,074,318. 20.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. HC Wainwright upped their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Truist Financial upped their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.25.

Corcept Therapeutics Stock Down 6.2 %

Shares of NASDAQ:CORT opened at $74.45 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $64.81 and its 200-day simple moving average is $56.40. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

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.