Oppenheimer & Co. Inc. Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Oppenheimer & Co. Inc. increased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 23.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,774 shares of the biotechnology company’s stock after buying an additional 4,774 shares during the period. Oppenheimer & Co. Inc.’s holdings in Corcept Therapeutics were worth $1,147,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CORT. Swiss National Bank raised its position in Corcept Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 172,965 shares of the biotechnology company’s stock valued at $4,357,000 after purchasing an additional 1,200 shares during the period. Sei Investments Co. raised its position in Corcept Therapeutics by 207.7% during the first quarter. Sei Investments Co. now owns 61,627 shares of the biotechnology company’s stock valued at $1,552,000 after purchasing an additional 41,600 shares during the period. Russell Investments Group Ltd. raised its position in Corcept Therapeutics by 464.0% during the first quarter. Russell Investments Group Ltd. now owns 108,977 shares of the biotechnology company’s stock valued at $2,745,000 after purchasing an additional 89,655 shares during the period. US Bancorp DE raised its position in Corcept Therapeutics by 6,252.3% during the first quarter. US Bancorp DE now owns 25,282 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 24,884 shares during the period. Finally, ProShare Advisors LLC raised its position in Corcept Therapeutics by 8.7% during the first quarter. ProShare Advisors LLC now owns 16,617 shares of the biotechnology company’s stock valued at $419,000 after purchasing an additional 1,333 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CORT shares. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial increased their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Piper Sandler increased their price target on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William Guyer sold 3,394 shares of Corcept Therapeutics stock in a transaction on Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the completion of the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,301 shares of company stock valued at $1,594,253. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Up 1.5 %

Shares of NASDAQ:CORT opened at $52.62 on Tuesday. 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 business’s 50 day moving average is $46.46 and its 200 day moving average is $36.99. The stock has a market cap of $5.51 billion, a P/E ratio of 41.77 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. Sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.31 EPS 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.