Intech Investment Management LLC Purchases 6,140 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Intech Investment Management LLC grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 42.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,532 shares of the biotechnology company’s stock after acquiring an additional 6,140 shares during the quarter. Intech Investment Management LLC’s holdings in Corcept Therapeutics were worth $950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CORT. M&G PLC bought a new stake in shares of Corcept Therapeutics during the third quarter valued at approximately $11,173,000. Janus Henderson Group PLC boosted its position in shares of Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock valued at $6,677,000 after buying an additional 219,551 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Corcept Therapeutics by 20.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock valued at $39,781,000 after buying an additional 143,507 shares during the last quarter. abrdn plc boosted its position in shares of Corcept Therapeutics by 27.1% during the third quarter. abrdn plc now owns 666,952 shares of the biotechnology company’s stock valued at $30,867,000 after buying an additional 142,310 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Corcept Therapeutics by 94.9% during the second quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company’s stock valued at $8,554,000 after buying an additional 128,194 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Up 0.0 %

CORT stock opened at $58.60 on Friday. The stock has a market cap of $6.14 billion, a P/E ratio of 46.51 and a beta of 0.45. The stock’s fifty day simple moving average is $49.52 and its two-hundred day simple moving average is $38.66. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (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 was up 47.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Analysts expect that Corcept Therapeutics Incorporated will post 1.35 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Guyer sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total value of $353,000.00. Following the sale, the insider now owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 62.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,611 shares of company stock worth $1,563,548 over the last ninety days. 20.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on CORT shares. Truist Financial lifted their target price on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com cut Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday. Sandler O’Neill reaffirmed a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price 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.