Principal Financial Group Inc. Trims Stock Holdings in Corcept Therapeutics Incorporated $CORT

Principal Financial Group Inc. reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 521,500 shares of the biotechnology company’s stock after selling 13,949 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Corcept Therapeutics worth $43,342,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Abacus FCF Advisors LLC purchased a new position in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $3,238,000. Pacer Advisors Inc. lifted its holdings in shares of Corcept Therapeutics by 6,796.7% during the third quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock worth $32,459,000 after purchasing an additional 384,896 shares during the period. Cerity Partners LLC grew its position in Corcept Therapeutics by 21.4% in the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock valued at $54,800,000 after buying an additional 131,799 shares during the last quarter. Synergy Asset Management LLC increased its stake in Corcept Therapeutics by 96.1% in the 3rd quarter. Synergy Asset Management LLC now owns 506,856 shares of the biotechnology company’s stock valued at $39,615,000 after buying an additional 248,362 shares during the period. Finally, Ellsworth Advisors LLC purchased a new position in Corcept Therapeutics during the 3rd quarter worth $769,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

CORT opened at $40.13 on Thursday. Corcept Therapeutics Incorporated has a 1-year low of $32.99 and a 1-year high of $117.33. The stock has a market cap of $4.22 billion, a P/E ratio of 45.60 and a beta of 0.25. The stock’s 50 day simple moving average is $59.79 and its 200 day simple moving average is $69.49. 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 (NASDAQ:CORT) last posted 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). Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The firm had revenue of $207.64 million for the quarter, compared to analysts’ expectations of $223.78 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corcept Therapeutics in a report on Monday, December 29th. UBS Group began coverage on Corcept Therapeutics in a research report on Tuesday, December 16th. They set a “neutral” rating and a $95.00 target price on the stock. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Wolfe Research downgraded Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Wednesday, December 31st. Finally, Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.50.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.53, for a total transaction of $397,650.00. Following the completion of the transaction, the insider directly owned 10,277 shares in the company, valued at $817,329.81. The trade was a 32.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $35.18, for a total value of $703,600.00. Following the completion of the sale, the insider directly owned 1,235 shares in the company, valued at approximately $43,447.30. The trade was a 94.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 109,500 shares of company stock worth $7,848,100. 20.80% of the stock is currently owned by insiders.

Key Headlines Impacting Corcept Therapeutics

Here are the key news stories impacting Corcept Therapeutics this week:

• Neutral Sentiment: Short‑interest data published for early February appears anomalous (shows zero/NaN), so there’s no clear evidence that a coordinated short squeeze or large new short position is driving today’s move. This reporting irregularity means short interest likely isn’t a confirmed catalyst.
• Negative Sentiment: Media reporting (cited by Hagens Berman) says the FDA “warned the company ‘on several occasions’ not to submit” the relacorilant drug application — that Reuters/AP coverage previously caused a ~17% intraday drop and is the primary fundamental catalyst for the selloff. Corcept shares fall amid FDA warning report AP: FDA warned several times
• Negative Sentiment: Multiple securities‑fraud law firms have launched investigations into Corcept’s disclosures (Glancy Prongay Wolke & Rotter; Bragar Eagel & Squire; Levi & Korsinsky; Pomerantz; Frank R. Cruz), which raises the risk of litigation, regulatory scrutiny and incremental headline risk that can further pressure the stock. Representative notices: Glancy investigation notice Bragar investigation alert Levi & Korsinsky notice Pomerantz investigation Frank R. Cruz notice

Corcept Therapeutics 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.