Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,661 shares of the biotechnology company’s stock after buying an additional 2,897 shares during the period. Advisors Asset Management Inc.’s holdings in Corcept Therapeutics were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Corcept Therapeutics by 20.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock worth $39,781,000 after buying an additional 143,507 shares during the last quarter. Quest Partners LLC boosted its stake in Corcept Therapeutics by 75.8% in the 3rd quarter. Quest Partners LLC now owns 9,256 shares of the biotechnology company’s stock worth $428,000 after buying an additional 3,990 shares during the last quarter. Natixis Advisors LLC boosted its stake in Corcept Therapeutics by 36.2% in the 3rd quarter. Natixis Advisors LLC now owns 28,144 shares of the biotechnology company’s stock worth $1,303,000 after buying an additional 7,484 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Corcept Therapeutics in the 3rd quarter worth about $1,784,000. Finally, Royce & Associates LP raised its holdings in shares of Corcept Therapeutics by 3.7% in the 3rd quarter. Royce & Associates LP now owns 363,272 shares of the biotechnology company’s stock worth $16,812,000 after purchasing an additional 13,000 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CORT. Truist Financial raised their price objective 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 raised their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday. Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $58.60 on Thursday. The company has a market cap of $6.14 billion, a P/E ratio of 46.49 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $61.66. The business’s 50-day simple moving average is $49.20 and its 200 day simple moving average is $38.52.

Corcept Therapeutics (NASDAQ:CORT) last announced its 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. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The business had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same period last year, the business posted $0.28 EPS. The company’s revenue was up 47.7% on a year-over-year basis. On average, sell-side analysts forecast that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $213,176.70. The trade was a 62.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Charles Robb sold 11,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. The trade was a 32.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,611 shares of company stock worth $1,563,548 in the last three months. 20.50% of the stock is owned by 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.