Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,822 shares of the biotechnology company’s stock after purchasing an additional 496 shares during the quarter. KBC Group NV’s holdings in Corcept Therapeutics were worth $131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oak Ridge Investments LLC purchased a new position in shares of Corcept Therapeutics during the second quarter worth about $984,000. M&G PLC purchased a new position in Corcept Therapeutics during the 3rd quarter worth approximately $11,173,000. State Board of Administration of Florida Retirement System increased its position 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 buying an additional 43,809 shares during the period. Milestone Asset Management LLC lifted its stake in Corcept Therapeutics by 47.4% in the second quarter. Milestone Asset Management LLC now owns 51,599 shares of the biotechnology company’s stock valued at $1,676,000 after buying an additional 16,593 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Corcept Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after acquiring an additional 28,250 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of CORT opened at $55.91 on Friday. 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 50 day moving average is $47.62 and its two-hundred day moving average is $37.52. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $61.66. The firm has a market capitalization of $5.86 billion, a PE ratio of 44.37 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly 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. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Truist Financial upped their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler increased 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, Sandler O’Neill reissued 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $65.25.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.88, for a total transaction of $131,736.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $509,080.00. Following the completion of the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This trade represents a 32.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,301 shares of company stock valued at $1,594,253 in the last ninety days. 20.50% of the stock is currently owned by company insiders.

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.