Calamos Advisors LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Calamos Advisors LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,479 shares of the biotechnology company’s stock, valued at approximately $373,000.

Several other large investors have also modified their holdings of the business. Strs Ohio boosted its stake in Corcept Therapeutics by 585.0% during the fourth quarter. Strs Ohio now owns 13,700 shares of the biotechnology company’s stock worth $444,000 after buying an additional 11,700 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $209,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Corcept Therapeutics by 51.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,756 shares of the biotechnology company’s stock valued at $674,000 after purchasing an additional 7,038 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in Corcept Therapeutics by 29.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 98,330 shares of the biotechnology company’s stock worth $3,194,000 after acquiring an additional 22,322 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Corcept Therapeutics in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $32.49, for a total value of $162,450.00. Following the completion of the transaction, the insider now owns 9,290 shares of the company’s stock, valued at approximately $301,832.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,550 shares of company stock valued at $1,178,759. 20.50% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Trading Up 1.5 %

Shares of CORT opened at $34.79 on Monday. The company has a 50-day moving average of $32.97 and a two-hundred day moving average of $28.22. The stock has a market cap of $3.62 billion, a P/E ratio of 32.82 and a beta of 0.44. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $39.75.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on CORT. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Piper Sandler upped their price target on Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. HC Wainwright upped their price objective on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $46.50.

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.