Voya Investment Management LLC Trims Position in Corcept Therapeutics Incorporated $CORT

Voya Investment Management LLC lowered its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 52.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,277 shares of the biotechnology company’s stock after selling 32,032 shares during the quarter. Voya Investment Management LLC’s holdings in Corcept Therapeutics were worth $2,433,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CORT. Norges Bank purchased a new position in shares of Corcept Therapeutics during the 2nd quarter worth $72,048,000. TD Asset Management Inc acquired a new position in Corcept Therapeutics in the second quarter valued at $60,179,000. Epoch Investment Partners Inc. purchased a new position in Corcept Therapeutics during the second quarter worth about $56,181,000. Cerity Partners LLC lifted its position in Corcept Therapeutics by 21.4% during the second quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock worth $54,800,000 after buying an additional 131,799 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Corcept Therapeutics by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,722 shares of the biotechnology company’s stock worth $46,882,000 after buying an additional 55,629 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

CORT opened at $82.65 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52-week low of $49.00 and a 52-week high of $117.33. The company has a 50 day moving average of $78.76 and a two-hundred day moving average of $75.49. The company has a market cap of $8.69 billion, a P/E ratio of 93.92 and a beta of 0.20.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $207.64 million during the quarter, compared to analysts’ expectations of $223.78 million. Corcept Therapeutics had a net margin of 14.19% and a return on equity of 15.99%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 20,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $75.36, for a total value of $1,507,200.00. Following the completion of the sale, the insider owned 5,287 shares in the company, valued at approximately $398,428.32. This trade represents a 79.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $73.99, for a total value of $1,479,800.00. Following the sale, the insider owned 7,904 shares in the company, valued at approximately $584,816.96. The trade was a 71.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 261,700 shares of company stock valued at $21,002,348 over the last three months. 20.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CORT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 22nd. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Wolfe Research assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. Finally, Zacks Research raised Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average price target of $127.20.

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.