Allspring Global Investments Holdings LLC Boosts Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Allspring Global Investments Holdings LLC grew its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 97.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 251,068 shares of the biotechnology company’s stock after purchasing an additional 123,720 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Corcept Therapeutics were worth $11,619,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Corcept Therapeutics by 199.0% in the 1st quarter. BNP Paribas Financial Markets now owns 211,592 shares of the biotechnology company’s stock valued at $5,330,000 after buying an additional 140,815 shares during the last quarter. Oak Ridge Investments LLC purchased a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $984,000. State Board of Administration of Florida Retirement System lifted its holdings in Corcept Therapeutics by 190.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock worth $1,684,000 after acquiring an additional 43,809 shares during the period. US Bancorp DE boosted its position in Corcept Therapeutics by 6,252.3% in the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 24,884 shares during the last quarter. Finally, Milestone Asset Management LLC grew its stake in Corcept Therapeutics by 47.4% in the 2nd quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after purchasing an additional 16,593 shares during the period. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Up 0.1 %

CORT opened at $47.28 on Friday. The firm has a 50-day moving average price of $41.05 and a 200-day moving average price of $33.73. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $50.07. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 44.60 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The business had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. Corcept Therapeutics’s revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Guyer sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,251 shares of company stock worth $1,365,292. 20.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CORT shares. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Piper Sandler increased their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright increased their price objective on Corcept Therapeutics from $45.00 to $80.00 and gave the company a “buy” rating in a report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics 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.