38,541 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) during the third quarter, Holdings Channel reports. The fund bought 38,541 shares of the biotechnology company’s stock, valued at approximately $1,784,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in Corcept Therapeutics by 207.7% during the 1st quarter. Sei Investments Co. now owns 61,627 shares of the biotechnology company’s stock worth $1,552,000 after buying an additional 41,600 shares during the period. Russell Investments Group Ltd. boosted its stake in Corcept Therapeutics by 464.0% in the 1st quarter. Russell Investments Group Ltd. now owns 108,977 shares of the biotechnology company’s stock worth $2,745,000 after purchasing an additional 89,655 shares during the period. US Bancorp DE boosted its position in shares of 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 buying an additional 24,884 shares during the period. ProShare Advisors LLC grew its stake in Corcept Therapeutics by 8.7% during the 1st quarter. ProShare Advisors LLC now owns 16,617 shares of the biotechnology company’s stock valued at $419,000 after acquiring an additional 1,333 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Corcept Therapeutics by 190.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 66,866 shares of the biotechnology company’s stock valued at $1,684,000 after buying an additional 43,809 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Corcept Therapeutics Stock Up 3.3 %

CORT opened at $56.09 on Thursday. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $47.62 and its 200 day simple moving average is $37.52. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $61.66. The stock has a market cap of $5.88 billion, a PE ratio of 44.52 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million during the quarter, compared to the consensus estimate of $171.97 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was up 47.7% compared to the same quarter last year. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Truist Financial upped 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. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and an average target price of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 10,000 shares of the stock in a transaction dated 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 directly owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. This represents a 62.35 % 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, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,301 shares of company stock valued at $1,594,253. 20.50% of the stock is currently owned by company insiders.

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.