Blue Trust Inc. Buys 8,132 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Blue Trust Inc. grew its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 230.6% in the 3rd quarter, Holdings Channel reports. The firm owned 11,658 shares of the biotechnology company’s stock after purchasing an additional 8,132 shares during the period. Blue Trust Inc.’s holdings in Corcept Therapeutics were worth $540,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in Corcept Therapeutics by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 510 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Corcept Therapeutics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock worth $4,138,000 after buying an additional 541 shares during the period. GAMMA Investing LLC grew its position in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after buying an additional 579 shares during the period. Bank of Montreal Can grew its position in shares of Corcept Therapeutics by 5.0% in the 2nd quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock worth $395,000 after buying an additional 580 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $36,000. 93.61% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Gary Charles Robb sold 3,101 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.71, for a total transaction of $110,736.71. Following the sale, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the sale, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,251 shares of company stock valued at $1,365,292 in the last 90 days. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Performance

Shares of CORT stock opened at $48.92 on Wednesday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $50.07. The company’s 50-day moving average is $40.25 and its 200 day moving average is $33.37. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 46.15 and a beta of 0.46.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate 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 for the quarter was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, research analysts predict that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CORT shares. HC Wainwright upped their target price on shares of Corcept Therapeutics from $45.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Truist Financial upped their target price 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. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $65.25.

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.